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Question 1 of 5Solve each word problem:
Amy invests $4,043 in a mutual fund with a fixed annual interest rate that is compounded continuously. After 16 years, the account balance reaches $12,391.21. What is the interest rate of her account?

Note: this example requires the use of logarithms. You can view an example here.

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A
8%
B
10%
C
7%
D
9%
E
11.5%
Question 2 of 5Solve each word problem:
Mary invests $2,177 in a savings account with a fixed annual interest rate that is compounded continuously. After 14 years, the account balance reaches $6,672.19. What is the interest rate of the account?

Note: this example requires the use of logarithms. You can view an example here.

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A
5%
B
5.5%
C
6%
D
8%
E
4.25%
Question 3 of 5Solve each word problem:
Jennifer invests a lump sum of money in a savings account with a fixed annual interest rate of 9% that is compounded continuously. After 10 years, the account balance reaches $14,000.06. What was the amount of the initial deposit?
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A
$6206
B
$5692
C
$5949
D
$5432
E
$4756
Question 4 of 5Solve each word problem:
Lea invests a lump sum of money in a retirement account with a fixed annual interest rate of 5% that is compounded continuously. After 14 years, the account balance is $13,300.84. What was the amount of the initial deposit?
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A
$6348
B
$7119
C
$6605
D
$6682
E
$7325
Question 5 of 5Solve each word problem:
Larry invests a lump sum of money in a bond fund with a fixed annual interest rate of 3% that is compounded continuously. After 5 years, the account balance reaches $3,387.91. What was the amount of the initial deposit?
Finish »
Select the Correct Answer Below: Correct! Cool Emoji Not Correct! Cool Emoji
A
$2916
B
$3430
C
$3687
D
$3173
E
$2715

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