Question: 10. In each case, identify the formula you would use to solve the problem. Explain why you chose that formula. You do not need to
10. In each case, identify the formula you would use to solve the problem. Explain why you chose that formula. You do not need to solve the problem. a. Ilan wants to save up money for a vacation in Europe. They want to be able to withdraw $2000 each month for 3 months. If their investment account pays 8% interest, how much will they need to have saved up at the beginning of the trip? b. Deborah needs to borrow $200. A payday lender loans them the money for 2 weeks, with a 25% interest rate. How much will Deborah have to pay at the end of the two weeks? c. Ruben invests $1000 each month in an account which pays 7% interest. How much will they have at the end of 8 years? d. Dahlia borrows $3000 to buy a car, at 4% interest, compounded monthly. If they want to pay the loan off in 2 years, how much do they need to pay each month? c. Jocelyn borrows $3000 at 9% interest compounded daily and pays the loan off in one lump sum at the end of a year. How much interest will Jocelyn pay
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