Karen Gaines invested $13,000 in a money market account with an interest rate of 1.75% compounded semiannually. Six years later, Karen withdrew the full amount to put toward the down payment on a new house. How much did Karen withdraw from the account? Karen withdrew $ (Round to the nearest cent as needed) (COD)
Karen Gaines invested $13,000 in a money market account with an interest rate of 1.75% compounded semiannually. Six years later, Karen withdrew the full amount to put toward the down payment on a new house. How much did Karen withdraw from the account? Karen withdrew $ (Round to the nearest cent as needed) (COD)
Chapter3: Income Sources
Section: Chapter Questions
Problem 79P
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![Karen Gaines invested $13,000 in a money market account with an interest rate of 1.75% compounded
semiannually. Six years later, Karen withdrew the full amount to put toward the down payment on a new house. How
much did Karen withdraw from the account?
Karen withdrew $
(Round to the nearest cent as needed)
EXTRED](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F42dbffe9-6e96-44f7-b2da-dfd07848442a%2F806ac1d9-08ee-4633-b908-44fa16801a0e%2Fst1ejow_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Karen Gaines invested $13,000 in a money market account with an interest rate of 1.75% compounded
semiannually. Six years later, Karen withdrew the full amount to put toward the down payment on a new house. How
much did Karen withdraw from the account?
Karen withdrew $
(Round to the nearest cent as needed)
EXTRED
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