2. A bank loans zehra 1,000 at an annual simple discount rate of 8%. The bank requires that the loan must be repald within 13 years. She puts the 1,000 into a fund that earns an annual simple interest rate of 9%. At time t, she withdraws the accumulated value in the fund and repays the loan, leaving her with X : X=(Accumulatedvalueinfundattimet)(Accumulatedvalueofloanattimet) Zehra chooses t to maximize X. Calculate X. a. x=3.6797 b. x=23.5676 c. X=307.4532 d. X=55.2445 e. x=10.5643 Solution