Question: Use the compound interest formula A=P(1+ r/m) n to compute the total amount after $4500 is invested at 5% over 7 years compounded semi annually.

Use the compound interest formula A=P(1+ r/m)ⁿto compute the total amount after $4500 is invested at 5% over 7 years compounded semi annually. Then compute the interest earned.

The total amount is $_____. round to the nearest cent.

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