Question
Interest is compoundedsemiannually. Find the amount in the account and the interest earned after the given time. Principal = $4000, Rate of Interest = 7%,
Interest is compoundedsemiannually. Find the amount in the account and the interest earned after the given time.
Principal = $4000, Rate of Interest = 7%, Time = 3 years
The amount in the account is $____________
(Do not round until the final answer. Then round to the nearest cent as needed.)
The Interest earned is $____________
(Do not round until the final answer. Then round to the nearest cent as needed.)
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Cases in Finance
Authors: Jim DeMello
3rd edition
1259330476, 1259330478, 9781259352652 , 978-1259330476
