Multiple Choice
If $7,000 is invested at an annual rate of 11.5% compounded continuously, the future value S at any time t (in years) is given by
. What is the amount after 12 months? Round your answer to the nearest cent.
A) $27,824.31
B) $7,848.82
C) $17,838.71
D) $17,838.72
E) $7,853.11
Correct Answer:
Verified
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