Question 2 (10marks)

a) a person borrows $4000, agreeing to pay $50 at the end of each month to reduce the outstanding principal and agreeing to pay the interest due on any unpaid balance at rate of 2% per month. determine the sum of all interest payments.

b) the value of a certain machine at the end of each year is 80% of its value at the beginning of the year. if the machine originally cost $20000, determine its value at the end of 20 years.

c) a city is increased in population by 4% a year from 1999 to 2009. if the population was 40,000 in 1999, what is the estimated population in 2019, assuming the rate of growth remains the same?