Edgar accumulated $4,000 in credit card debt. If the interest rate is 30% per year, and he does not make any payments for 2 year
s, how much will he owe (in dollars) on this debt in 2 years by each method of compounding? (Simplify your answers completely. Round your answers to the nearest cent.)
A = Pe^(rt), where P is the original amount, A is the accumulated amount, r is the interest rate as a decimal fraction, and t is the number of years. We want to know how much he will owe on this original $5,000 credit card debt after 2 years.
