Question: Continuous Compunding Taylor borrows $ 8 , 0 0 0 from a building society for 3 years at an annual rate of interest of 6

Continuous Compunding
Taylor borrows $8,000 from a building society for 3 years at an annual rate of interest of 6% and she is going to pay it all back in a lump sum at the end of year 3. She will make no repayments before the end of the loan.
How much she will have to pay back at the end of three years if the annual interest rate is compounded continuously?
a. $964,064
b.
None of the options are correct.
c. $9,577,738.90
d. $9,764,064
e. $988,869.45
 Continuous Compunding Taylor borrows $8,000 from a building society for 3

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