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What Is the Compound Amount at the End of a 2-Year

Question 34

Multiple Choice

What is the compound amount at the end of a 2-year period on a loan with an original principal of $1,750 at 8% compounded semiannually? Round to the nearest cent after each calculation.


A) $2,047.25
B) $2,030.00
C) $2,029.37
D) $2,370.00

Correct Answer:

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