14-15 both xx

14. The population of a small town is known to grow at an annual nominal rate of 10% compounded 3 times every 5 years. If the population of the town is 3000 people today, what is the population expected to be in 2 years? (answer to the nearest person) (A) 3364 (B) 3643 (C) 3197 (D) 3610 15. You borrow $5000 today. The loan is due in 5 years, with interest at j1=7%. It is agreed that you can instead pay $1000 one year from now, $X two years from now and $2000 three years from now. If money is worth j4=8%, what is the value of X ? (A) $2599.39 (B) $2648.80 (C) $2788.70 (D) $2794.38