Compute the following under a fixed continuously compounding rate of interest of 8% per annum.

a. The accumulated value of $10,000 after 4 years.

b. The present value of a $100 due in 15 years.

c. The accumulated value at t = 5 of $20,000 invested at t = 4. Time is measured in years.

d. The present value of $10 due in 6 months and $20 due in 25 months.

e. The equivalent effective annual rate of compounding interest. Interpret your answer.