Omar deposited $4000 into an account with 4.2% interest, compounded semiannually. Assuming that no withdrawals are made, how much will he have in the account after 7 years? Do not round any intermediate computations, and round your answer to the nearest cent.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 5SE: What is an annuity?
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Omar deposited $4000 into an account with 4.2% interest, compounded semiannually. Assuming that no withdrawals are made, how much will he have in the
account after 7 years?
Do not round any intermediate computations, and round your answer to the nearest cent.
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Transcribed Image Text:Omar deposited $4000 into an account with 4.2% interest, compounded semiannually. Assuming that no withdrawals are made, how much will he have in the account after 7 years? Do not round any intermediate computations, and round your answer to the nearest cent. Submit Assignment Continue O 2022 McGraw Hill LLC. All Rights Reserved. Terms of Use Privacy Center Accessibility MacBook Air FI0 F9 F7 g0 F3 888 F5 F4 esc F2 F1 * & #3 $ % 8 9 6 7
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