John Lee's savings account has a balance of $1,251.00. After 5 years, what will the amount of interest be at 8% compounded semi-annually? $271.03 $500.40 $587.13 $600.73

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 69SGR
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John Lee's savings account has a balance of $1,251.00.
After 5 years, what will the amount of interest be at 8% compounded semi-annually?
$271.03
$500.40
$587.13
$600.73
Transcribed Image Text:John Lee's savings account has a balance of $1,251.00. After 5 years, what will the amount of interest be at 8% compounded semi-annually? $271.03 $500.40 $587.13 $600.73
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