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Use the Formula A=p(1+rn)ntA = p \left( 1 + \frac { r } { n } \right) ^ { n t }

Question 22

Multiple Choice

Use the formula A=p(1+rn) ntA = p \left( 1 + \frac { r } { n } \right) ^ { n t } to find the amount for the investment. $13,400 for 4 years at 1.5% compounded semiannually.


A) $14,225.48
B) $14,225.36
C) $14,225.60
D) $14,225.54
E) $14,225.42

Correct Answer:

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