Question: For problems 8-10, state the correct formula (simple interest, compound interest, annuity, or payout annuity/loan) and the variable in the formula that you need to

For problems 8-10, state the correct formula (simple interest, compound interest, annuity, or payout annuity/loan) and the variable in the formula that you need to solve for. Explain why you made those choices. Then solve the problem. 8. Rhonda borrows $2000 at 7.45% interest, compounded monthly. They pay the money back in one payment after 3 years. How much do they end up paying total? 9. Rhonda borrows $2000 at 7.45% interest, compounded monthly. They pay the money back in monthly payments over 3 years. How much do they end up paying each month? How much do they end up paying total? 10. Felipe has saved $1.2 million dollars for retirement. If they have the money in an account which pays 4% interest, and they want to withdraw $6000 each month, how many years will the money last

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