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Diagnostic Test 4 Practice Test
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Q1
Jeffrey has won a lottery and has elected to take a \$10,000 per month payment.
At the beginning of the year, Jeffrey deposits the first payment of \$10,000 in an account that pays 7.6% interest annually, compounded continuously. At the very beginning of each month, he deposits another \$10,000. How much will he have at the very end of the year?
Jeffrey has won a lottery and has elected to take a \$10,000 per month payment.
At the beginning of the year, Jeffrey deposits the first payment of \$10,000 in an account that pays 7.6% interest annually, compounded continuously. At the very beginning of each month, he deposits another \$10,000. How much will he have at the very end of the year?
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