A university graduate starts his new job on his 22nd birthday at an annual salary of $48 000. If his salary goes up 5% a year (on his birthday), how much will he be making when he retires one day before his 65th birthday?

A debt of $8000 is due in 5 years. Determine the original loan amount if the interest rate is 8% compounded a) quarterly; b) daily; c) continuously.

By what date will $800 deposited on February 4, 2014, be worth at least $1200 a) at 6% compounded daily; b) at 6% compounded continuously?

Shirley must borrow $1000 for 2 years. She is offered the money at a) 8% compounded continuously; b) 8 1/4% compounded semi-annually; c) 8 1/2 simple interest. Which offer should she accept?