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Interest To help pay for college expenses, Julie Davis

Chapter , Problem 101A

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QUESTION:

Problem 101A

Interest To help pay for college expenses, Julie Davis borrowed $10,000 at 7% interest compounded semiannually for 8 years. How much will she owe at the end of the 8-year period?

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QUESTION:

Problem 101A

Interest To help pay for college expenses, Julie Davis borrowed $10,000 at 7% interest compounded semiannually for 8 years. How much will she owe at the end of the 8-year period?

ANSWER:

SOLUTION

Step 1 of 3

In this problem, we have to find the compound amount.


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