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13. (16 marks) You invest $2000 at annual 5% interest, compounded monthly. a) (5 marks) Give an expression (not evaluated as a decimal) for the factor by which your investment has increased after 15 months.

Nicole’s gross monthly salary is $8,048 on net sales totalling $117,932. If her base salary is $1,500 per month, what is her percent rate of commission on sales exceeding her quota of $21,000?

Rounder answer two decimal places