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When a Child Was Born, Her Grandparents Deposited $1000 in a Saving

Question 22

Multiple Choice

When a child was born, her grandparents deposited $1000 in a saving account at 5% interest compounded continuously. The amount of money after t years is:


A) 1000(2t) 1000 \left( 2 ^ { t } \right)
B) 1000(et) 1000 \left( e ^ { t } \right)
C) 500(et) 500 \left( e ^ { t } \right)
D) 500(3t) 500 \left( 3 ^ { t } \right)
E) 1000(e0.05t) 1000 \left( e ^ { - 0.05 t } \right)
F) 1000(e0.05t) 1000 \left( e ^ { 0.05 t } \right)
G) 500(e0.1t) 500 \left( e ^ { 0.1 t } \right)
H) 1000(e2t) 1000 \left( e ^ { 2 t } \right)

Correct Answer:

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