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Diane borrowed 8000 at a rate of 7%, compounded semiannually. Assuming she makes no payments, how much will she owe after 6 years? Do not round any intermediate computations, an…

Diane borrowed 8000 at a rate of 7%, compounded semiannually. Assuming she makes no payments, how much will she owe after 6 years? Do not round any intermediate computations, an…
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Diane borrowed 8000 at a rate of 7%, compounded semiannually. Assuming she makes no payments, how much will she owe after 6 years?

Do not round any intermediate computations, and round your answer to the nearest cent.​

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User Veight Zhou
by
8.3k points

1 Answer

1 vote

Answer: $12088.55

Explanation:

A = p(1+r/n)^nt

A = 8000(1+0.07/2)^2*6

A = 12088.54926

answered
User Ijmarshall
by
8.4k points
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