Use the compound interest formula to compute the total amount accumulated and the interest earned. $3000 for 3 years at 5% compounded semiannually. ... The amount in the account is $ (Do not round until the final answer. Then round to the nearest cent as needed.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 8CYU
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Use the compound interest formula to compute the total amount accumulated and the interest earned.
$3000 for 3 years at 5% compounded semiannually.
The amount in the account is $
(Do not round until the final answer. Then round to the nearest cent as needed.)
Transcribed Image Text:Use the compound interest formula to compute the total amount accumulated and the interest earned. $3000 for 3 years at 5% compounded semiannually. The amount in the account is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
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