Use the compound interest formula to compute the total amount accumulated and the interest earned. $5000 for 3 years at 7% compounded semiannually. The amount in the account is S (Do not round until the final answer. Then round to the nearest cent as needed.)

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
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Section: Chapter Questions
Problem 7.36EP
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Use the compound interest formula to compute the total amount accumulated and the interest earned.
$5000 for 3 years at 7% compounded semiannually.
The amount in the account is $
(Do not round until the final answer. Then round to the nearest cent as needed.)
Transcribed Image Text:Use the compound interest formula to compute the total amount accumulated and the interest earned. $5000 for 3 years at 7% compounded semiannually. The amount in the account is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
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