Question: Determine the amount due on the compound interest loan. (Round your answers to the nearest cent.) $16,000 at 5% for 10 years if the interest

Determine the amount due on the compound interest loan. (Round your

Determine the amount due on the compound interest loan. (Round your answers to the nearest cent.) $16,000 at 5% for 10 years if the interest is compounded in the following ways. (a) annually (b) quarterly

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