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College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 5RE: A retirement account is opened with an initialdeposit of 8,500 and earns 8.12 interest compounded...
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6. Sari borrows $22,000 at 5.9%/a interest compounded quarterly for 8 years. How much
interest will Sari owe at the end of 8 years?
a. $35,148.97
b. $13,148.97
c. $10,384.00
d. $32,384.00
Transcribed Image Text:6. Sari borrows $22,000 at 5.9%/a interest compounded quarterly for 8 years. How much interest will Sari owe at the end of 8 years? a. $35,148.97 b. $13,148.97 c. $10,384.00 d. $32,384.00
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