Daniel borrowed $10,000 for 5 years at the annual percent of 6.2% compounded continuously.

1. show a formula that models the amount of money that Daniel needs to pay, t year after he borrowed the $10,000.
2. How much money do you need to pay at the end of the term? Round the answer to the nearest cent.

• The formula that models the amount of money that Daniel needs to pay, t year after he borrowed the $10,000 is: ________________
• The much money that Daniel will pay after 5 years will be: ._______________