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Posted on Sep 11, 2024

Suppose a $ 1 2 , 0 2 7 loan has an annual compound interest rate of 3 . 5 % with semi - annual

Suppose a $

12, 027

loan has an annual compound interest rate of

3.5 %

with semi

-

annual compounding

(

twice per year

) .

If the loan's term is

5

years, what is its future value?

Round your answer to the nearest dollar.

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