Answered: How much interest is earned in 9 years…

How much interest is earned in 9 years on $8200 deposited in an account paying 6% interest, compounded semiannually? (Round your answer to two decimal places.)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 3CE

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How much interest is earned in 9 years on $8200 deposited in an account paying 6% interest, compounded semiannually? (Round your answer to two decimal places.)

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