Respuesta :

altavistard
The appropriate formula for "compound amount" is

A = P(1 + r/n)^(nt).  n is the # of compoundings per year (2).  r is the interest rate as a decimal fraction.  Thus,

A = $7300(1 + 0.07/2)^(2*3) = $8975.56 (answer)

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