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(Solved): Points] BERRAPCALCBR7 4.1.013.MI. Find the value of $1000 deposited in a bank at 9% interest for 10 ...
Points] BERRAPCALCBR7 4.1.013.MI. Find the value of
$1000deposited in a bank at
9%interest for 10 years compounded in the following ways. (Round your answers to the nearest cent.) (a) annually
$2367.36
◻(b) quarterly
$
◻(c) continuously
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◻[0/2 Points] BERRAPCALCBR7 4.1.015. A loan shark lends you
$100at
1%compound interest per week (this is a weekly, not an annual rate). (Round your answers to the nearest dollar.) (a) How much will you owe after 3 years? (Use 52 weeks per year.)
$(b) In "street" language, the profit on such a loan is known as the "vigorish" or the "vig." Find the shark's vig.
$
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