The answers are
P=63, 69, 45
5% of $8600 is $430
He makes $430 per years
over the 12 years he makes $5160 in simple interest
Answer:
(a) The future value after 9 years is $7142.49.
(b) The effective rate is
.
(c) The time to reach $13,000 is 21.88 years.
Step-by-step explanation:
The definition of Continuous Compounding is
If a deposit of
dollars is invested at a rate of interest
compounded continuously for
years, the compound amount is

(a) From the information given



Applying the above formula we get that

The future value after 9 years is $7142.49.
(b) The effective rate is given by

Therefore,

(c) To find the time to reach $13,000, we must solve the equation


I am assuming that you are asking for the sum.
503497
26475
+
-----------
529,972
I really don't know how to explain it more.