(a) If $ 1000 is borrowed at 8 % interest, find the amounts due at the end of 3 years if the interest is compounded (i) annually, (ii) quarterly, (iii) monthly, (iv) weekly, (v) daily, (vi) hourly, and (vii) continuously. (b) Suppose $ 1000 is borrowed and the interest is compounded continuously. If A ( t ) is the amount due after t years, where 0 ≤ t ≤ 3 , graph A ( t ) for each of the interest rates 6 % , 8 % , and 10 % on a common screen.
(a) If
$
1000
is borrowed at
8
%
interest, find the amounts due at the end of 3 years if the interest is compounded (i) annually, (ii) quarterly, (iii) monthly, (iv) weekly, (v) daily, (vi) hourly, and (vii) continuously.
(b) Suppose
$
1000
is borrowed and the interest is compounded continuously. If
A
(
t
)
is the amount due after
t
years, where
0
≤
t
≤
3
, graph
A
(
t
)
for each of the interest rates
6
%
,
8
%
, and
10
%
on a common screen.
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