# $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?

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

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