Use the compound interest formula to compute the future value of the investment. Round the answer to the nearest cent. $2,000 at 1% compounded semiannually for 6 years A. $2,120.00 B. $2,123.04 C. $2,123.36 D. $2,060.76
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We can try each option and see which one gives us a reasonable interest rate. Option 1: A = 2,120.00 2,120.00 = 82,000(1 + r/2)^(2*6) Show more…
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