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17. Semiannual and other compounding periods Monthly compounding implies that interest is compounded -- ?-- times per year. You have deposited $3,750 into an account

17. Semiannual and other compounding periods

Monthly compounding implies that interest is compounded -- ?-- times per year.

You have deposited $3,750 into an account that will earn an interest rate of 12% compounded semiannually. How much will you have in this account at the end of 14 years?

$21,085.71

$19,168.83

$14,376.62

$22,044.15

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