Determine the total amount and the interest paid on $1000 with interest compounded semiannually for 2 years
Question:
Determine the total amount and the interest paid on $1000 with interest compounded semiannually for 2 years at
(a) 2%.
(b) 4%.
(c) 8%.
(d) Is there a predictable outcome in either the amount or the interest when the rate is doubled? Explain.
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a i 104060 1000 4060 b i ...View the full answer
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Related Book For 
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
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