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Compute the Compound Interest $5500\$ 5500 At 9%9 \% Compounded Semiannually $11,123.04\$ 11,123.04

Question 126

Multiple Choice

Compute the compound interest.
-Binal Patel invested $5500\$ 5500 at 9%9 \% compounded semiannually. How much will be in the account in 8 years? Round to the nearest cent.


A) $11,123.04\$ 11,123.04
B) $7821.55\$ 7821.55
C) $21,836.68\$ 21,836.68
D) $10,959.09\$ 10,959.09

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