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1) Use the formula for the present value of an ordinary annuity or the amortization formula to solve the following problem: PV = $6,000 i

1) Use the formula for the present value of an ordinary annuity or the amortization formula to solve the following problem:

PV = $6,000

i = 0.03

PMT = $650

n = ???

Solve for n

2) S.A.A.

PV = $7,000

i = 0.03

PMT = $400

n = ???

Solve for n

3) If the population of a particular country is growing at 1.2% compounded continuously, how long will it take the population to triple?

Solve for years to triple.

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