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Find the total amount in the compound interest account. $7000 is compounded semiannually at a rate of 9% for 18 years. (Round to the nearest cent.)

Find the total amount in the compound interest account. $7000 is compounded semiannually at a rate of 9% for 18 years. (Round to the nearest cent.)
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Find the total amount in the compound interest account.

$7000 is compounded semiannually at a rate of 9% for 18 years.
(Round to the nearest cent.)

User Kammy
by
7.5k points

1 Answer

3 votes
11340

9% of 7000 is 630 then just multiply 630x18 which equals to 11340
User David Dal Busco
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