Question

Anne Katz, the owner of Katz Sport Shop, lends $8,000 to Shelley Slater to help her open an art shop. Shelley plans to repay Anne at the end of eight years with interest compounded semiannually at 8%. At the end of eight years, Anne will receive (use the tables in the handbook):

$14,984
$16,857
$16,587
$14,484
None of these

Answer 1

There is $8000 that need to be paid back in 8 years semiannually (twice a year)
so 16 times each time it is 8% which is $640 so multiply 16 by 640 and you will get $10240 which should be including the $8000 and interest.

Answer 2

I think it is the second one if I'm correct which probably I'm am wrong so don't take my word but if you want to