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17 May, 10:45

suppose that $2,000 is loaned at a rate of 18.5% compounded semi-annually assume that no payments are made find the amount after 3 years

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  1. 17 May, 13:21
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    Answer: 2000 (1+0.185/2) to the power of 3/2

    = $2283.82

    Step-by-step explanation: compounded interest is A = P (1 + r) the to power of N

    So assuming semi annually means twice a year

    2000 (1+0.185/2) to the power of 3/2
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