Use the compound interest formula to compute the total amount accumulated. $7,600 for 4 years at 2% compounded semiannually A. $7,908.59 B. $8,229.71 C. $8,226.48 D. $7,660.80

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
icon
Related questions
Question
1
Use the compound interest formula to compute the total amount accumulated.
$7,600 for 4 years at 2% compounded semiannually
A. $7,908.59
B. $8,229.71
C. $8,226.48
D. $7,660.80
Transcribed Image Text:Use the compound interest formula to compute the total amount accumulated. $7,600 for 4 years at 2% compounded semiannually A. $7,908.59 B. $8,229.71 C. $8,226.48 D. $7,660.80
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer