Question

Stan borrows $5,500 at a rate of 12% interest per year. What is the amount due at the end of 5 years if the interest is compounded continuously? In your final answer, include your calculations.

Answer 1

If Maggie invests $16,250 at a rate of 4.9%, compounded monthly, find the value of the investment after 7 years. Include your calculations in your final answer.

Explanation: