An amortization table for continuous compounding: This is a continuation . Suppose you have borrowed P dollars from a lending institution that compounds interest as often as possible—that is,...

An amortization table for continuous compounding: This is a continuation . Suppose you have borrowed P dollars from a lending institution that compounds interest as often as possible—that is, continuously. If the loan is to be paid off in t months, then you would calculate your monthly payment in dollars using

Suppose you borrow $3500 at an APR of 9% and pay off the note in 2 years.3

a. Calculate your monthly payment, and compare your answer with the answer you obtained.

b. Make an amortization table and compare it with the answer you got .