Question: PLEASE SOLVE BOTH PARTS A) B) Suppose the continuously compounded interest rate this year is 6%, and next year it will be 8%. What is

PLEASE SOLVE BOTH PARTS

Suppose the continuously compounded interest rate this year is 6%, and next year it will be 8%. What is the balance after two years of $1,000 invested today? The future balance will be $. (Round to the nearest dollar.) Clay Harden borrowed $29,000 from a bank at an interest rate of 7% compounded monthly. The loan will be repaid in 48 equal monthly installments over four years. Immediately after his 18 th payment, Clay desires to pay the remainder of the loan in a single payment. Compute the total amount he must pay. The total amount Clay must pay immediately after his 18 th payment will be $. (Round to the nearest dollar.) Suppose the continuously compounded interest rate this year is 6%, and next year it will be 8%. What is the balance after two years of $1,000 invested today? The future balance will be $. (Round to the nearest dollar.) Clay Harden borrowed $29,000 from a bank at an interest rate of 7% compounded monthly. The loan will be repaid in 48 equal monthly installments over four years. Immediately after his 18 th payment, Clay desires to pay the remainder of the loan in a single payment. Compute the total amount he must pay. The total amount Clay must pay immediately after his 18 th payment will be $. (Round to the nearest dollar.)

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