# $1,000 is borrowed at an interest rate of 8% per year.a. How much is owed at the end of one year if interest is compounded:i. monthly?ii. continuously?b.

4 answers

###### Question:

$1,000 is borrowed at an interest rate of 8% per year. a. How much is owed at the end of one year if interest is compounded:

i. monthly?

ii. continuously?

b. How much is owed at the end of three years if interest is compounded

continuously?

i. monthly?

ii. continuously?

b. How much is owed at the end of three years if interest is compounded

continuously?

[tex]$1,000 is borrowed at an interest rate of 8% per year. a. How much is owed at the end of one year[/tex]

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