10) Laura borrows $3750 at a rate of 10.5% compounded semiannually. Find how much Laura owes at the end of 5 years. 10) )nt where: r Use: A = P1 + n A = final amount P = $3750 (the amount borrowed) r = 10.5% = 0.105 (the annual rate of interest) n = 2 (the number of times interest is compounded each year) t = 5 (the duration of the loan in years) A) $39,468.75 B) $4843.30 C) $6880.90 D) $6255.36

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