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1. Determine the amount due on the compound interest loan. (Round your answers to the nearest cent.)

$18,000 at 5% for 10 years if the interest is compounded quarterly. Annually = 29320.10

2.Calculate the present value of the compound interest loan. (Round your answers to the nearest cent.)

$24,000 after 6 years at 3% if the interest is compounded in the following ways. Annually and Quarterly

3.Find the term of the compound interest loan. (Round your answer to two decimal places.)

3.9% compounded quarterly to obtain $8100 from a principal of $2000.

4.Use the "rule of 72" to estimate the doubling time (in years) for the interest rate, and then calculate it exactly. (Round your answers to two decimal places.)

7.4% compounded weekly.

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Elin Hessel
Elin HesselLv2
28 Sep 2019

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