CASE 9b Borrowing to Start a Business Enea, a promising entrepreneur, was excited for being recognized as having the best business plan at her college's annual entrepreneurial competition. An angel investor was so impressed with her plan that he offered her a loan at 6% compounded semi-annually to start her designer clothing store. After two years, her business had savings of $80,654 and she used the entire amount to completely pay off her outstanding debt with the investor. a. What was the loan amount provided to her by the angel investor and what was the accumulated interest over the two- year period? b. What rate, compounded monthly, would have resulted in the same accumulated debt? c. If Enea did not pay any amount throughout the term and the interest rate had remained at 6% compounded semi- annually, how long (in years and days) will it take for the debt to reach $100,000? d. If she had obtained the same loan amount from a local bank, it would have accumulated to $80,654 in 18 months instead of two years. What is the interest rate compounded semi-annually charged by the local bank? e. Calculate the loan amount provided to her by the angel investor if the loan had been issued to her at an annually compounding frequency instead of a semi-annually compounding frequency. Compare your answer to (a) and determine what her savings would be