Essay
What is the compound interest at the end of a 2-year period on a loan with an original principal of $5,000 at 10% compounded semiannually? Round to the nearest cent after each calculation.
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$1,077.54; Divide 10% by 2 for a rate of...View Answer
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Correct Answer:
Verified
$1,077.54; Divide 10% by 2 for a rate of...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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