Help with number 10

Bookmarks Profiles Tab Window Help 27 9 8 0 Thu Feb 27 9:31 PM Practice Exam3.pdf Downloads/Practice%20Exam3.pdf V Dashboard Seattle University All Bookmarks 1 / 1 | - 168% +|8) 9. If you borrow $5000 at 15 percent annual rate, compounded monthly. How much money do you owe at the end of 3 years? 10. If $20000 is invested at 3% compounded quarterly, what is the amount after 5 years? And if the same principal is invested at 3% and compounded continuously, what is the amount after 5 years? 11. (1) At the start of the month, you had a credit card balance of $1000. You buy A on the 15th for $200, and you pay down your credit card by $200 on the 25th. You credit card has an APR of 29.99%, and the interest is calculated using "average daily balance." (a) What is the interest for this month? (b) What is your balance starting next month? 12. There are two CDs from Bank A and Bank B. Bank A offers interest of 6%, compounded quarterly. Bank B offers interest of 5.9%, compound weekly. What are the APY's, and which is a better deal? 146 FEB 2 27 4 W 31 MacBook Pro 5 6 7 8 9 O