Suppose Rita borrows $6500 at an interest rate of 11%

Last updated: 7/11/2022

Suppose Rita borrows $6500 at an interest rate of 11% compounded each year. Assume that no payments are made on the loan. Follow the instructions below. Do not do any rounding. (a) Find the amount owed at the end of 1 year. $0 (b) Find the amount owed at the end of 2 years. $0