Pierre deposits $8,000 in a certificate of deposit that pays 8% interest, compounded semiannually. How much interest does the account earn in the first six months? What is the balance after six months?

asked Aug 1, 2022 176k views

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1 vote

$640 in interest after 6 months
$8,640 is the balance after six months

Cypherfunc answered Aug 5, 2022

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