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3 years ago

8

Anne Katz, owner of Katz Sport Shop, loans $8,000 to Shelley Slater to help her open an art shop. Shelley plans to repay Anne at

the end of 8 years with interest compounded semiannually at 8 percent. At the end of 8 years, Anne will receive:

1 answer:

Gekata [30.6K]3 years ago

7 0

A= P(1 + r/n) ^nt
=8000(1+0.08/2)^8x2
=8000(1.04)^16
=$14983.85

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