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Step 1 You deposit$8900in an account paying6%interest, compounded semiannually. Calculate the compound amount after5years. (Round your answer to two decimal places.) $11,960.86 11960.86 Step 2

Step 1

You deposit$8900in an account paying6%interest, compounded semiannually. Calculate the compound amount after5years. (Round your answer to two decimal places.) $11,960.86

11960.86

Step 2

The compound amount is$11960.86. Using the answer to Step 1, how muchinterestis earned? (Round your answer to two decimal places.)

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