1. Suppose that P dollars in principal is invested for t years at the given interest rates with continuous compounding.Determine the amount that the investment is worth at the end of the given time period.

P = $6000, t = 14 years

a.) 3% interest

b.) 4% interest

c.) 4.5% interest

Bethany needs to borrow $11,000. She can borrow the money at 4.5% simple interest for 4 years OR she can borrow at 5% with interest compounded continuously for 4 years.

a.) How much total interest would Bethany pay at 4.5% simple interest?

b.)How much total interest would Bethany pay at 5% interest compounded continuously?

c.)Which option results in less total interest ?