1.Isaac bought a slot machine with money he borrowed from the bank at 9%, compounded semiannually. What effective interest rate did he pay?

2.An accountant loans $28,000 to a small business. The loan is charged 6.5% simple interest which results in a total interest charge of $1,365. Find the length of the loan.

3. the interest earned on $10,000 invested for 5 years at 4%, compounded continuously.

4.How long will it take to double your money if you earn 5%, compounded continuously?