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5. Determine the amount due on the compound interest loan. (Round your answers to the nearest cent.) $18,000 at 4% for 10 years if the

5. Determine the amount due on the compound interest loan. (Round your answers to the nearest cent.) $18,000 at 4% for 10 years if the interest is compounded in the following ways. a) Annually b)Quarterly 6. Calculate the present value of the compound interest loan. (Round your answers to the nearest cent.) $24,000 after 6 years at 5% if the interest is compounded in the following ways. a) annually b) Quarterly 7. Find the term of the compound interest loan. (Round your answer to two decimal places.) 3.9% compounded quarterly to obtain $8100 from a principal of $2000. 8. Use the "rule of 72" to estimate the doubling time (in years) for the interest rate, and then calculate it exactly. (Round your answers to two decimal places.) 8% compounded annually. a) rule of 72: b) exact answer:

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