4.6.PS-10 A new bank customer with \( \$ 5,000 \) wants to open a money market account. The bank is olfering a simple interest rate of \( 1.3 \% \). a. How much interest will the customer earn in 10 years? b. What will the account balance be after 10 years?

How much money must you invest now at \( 4.2 \% \) interest compounded continuously in order to have \( \$ 10,000 \) at the end of 4 years? You must invest \( \$ \square \). (Round to the nearest cent as needed.)

2 Jane sells jewellery. Her weekly commission is based on a sliding scale of on the first \( \$ 2500 \) of her sales, \( 5 \% \) on the next \( \$ 5000 \) and \( 1 \% \) thereafter. She also gets a weekly retainer of \( \$ 500 \) Jane's weekly commission

\begin{tabular}{ll|l|}\hline A. UNA SERIE DE PAGOS MESUALES SE INICIA HOY CON UN AHORRO DE \( \$ 50.000 \) EN EL MES 1 DE \( \$ 60.000 \), EN \\ EL MES \( 2 \$ 70.000 \) Y ASI SUCESIVAMENIE HASTA LLEGAR A EL MES 23. PARA UNA TASA DE INTERES DEL \( 32 \% \) \\ \hline\end{tabular}

Find the present value of \( \$ 7,000 \) to be received in 5 years, if money may be invested at \( 7.2 \% \) with interest compounded continuously. The present value is \( \$ \square \). (Round to the nearest cent as needed.)

What is the approximate balance after 20 years? Choose the correct answer below. \( \begin{array}{ll}\text { A. } \$ 200 & \text { B. } \$ 400 \\ \text { C. } \$ 100 & \text { D. } \$ 10 \\ \text { b) About how fast is the balance increasing after } 20 \text { years? } \\ \text { Choose the correct answer below. } \\ \begin{array}{ll}\text { A. } \$ 5 / y e a r & \text { B. } \$ 200 / y e a r \\ \text { C. } \$ 20 / y e a r & \\ \text { c) Use the answers to parts a) and b) to determine the interest rate. }\end{array} \\ \text { The interest rate is } \square \% .\end{array} \)