Bill Jorden has a 48-month installment loan with a fixed monthly payment of $176.14. The amount borrowed was $7500. Instead of making the 24" payment,
Bill is paying off the rest of the loan. What is the total amount due to pay off the
loan

A. use the formula for continuous compounding with the original example: $1000 invested at 2% for 1 year. record the amount to 5 decimal places. use a calculator. b. compare it to the result using the original compound interest formula with n = 365 calculated to 5 decimal places. which has a larger value? explain.