Edgar accumulated $5,000 in credit card debt. If the interest rate is 20% per year and he does not make any payments for 2 years, how much will he owe on this debt in 2 years by compounding continuously? Round to the nearest cent.

$7200

Step-by-step explanation:

The interest rate on $5,000 accumulated by Edgar is 20%.

He does not make any payment for 2 years and the interests are compounded continuously.

The amount of money he owes after 2 years is the original $5000 and the interest that would have accumulated after 2 years.

The formula for compound amount is:

where P = amount borrowed = $5000

R = interest rate = 20%

T = amount of time = 2 years

Therefore, the amount he will owe on his debt is:

A = $7200

After 2 years, he will owe $7200

-7

step-by-step explanation:

x^2 + 18x + 74 = (x + 9)^2 - 81 + 74

= (x + 9)^2 - 7.

so q = -7.