The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. A. Find how much money there will be in the account after the given number of years. B. Find the interest earned. Click the icon to view some finance formulas. A. The amount of money in the account after 5 years is $ (Round to the nearest hundredth as needed.) B. The amount of interest earned is $. (Round to the nearest hundredth as needed.) Principal $12,000 Rate 8% Compounded semiannually Time 5 years

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter1: Foundations
Section1.2: Use The Language Of Algebra
Problem 179E: Car insurance Justin’s car insurance has a $750 deductible per incident. This means that he pays...
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The principal represents an amount of money deposited in a savings account subject to
compound interest at the given rate.
A. Find how much money there will be in the account after the given number of years.
B. Find the interest earned.
iClick the icon to view some finance formulas.
A. The amount of money in the account after 5 years is
(Round to the nearest hundredth as needed.)
B. The amount of interest earned is $.
(Round to the nearest hundredth as needed.)
...
Principal
$12,000
Rate
8%
Compounded
semiannually
Time
5 years
Transcribed Image Text:The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. A. Find how much money there will be in the account after the given number of years. B. Find the interest earned. iClick the icon to view some finance formulas. A. The amount of money in the account after 5 years is (Round to the nearest hundredth as needed.) B. The amount of interest earned is $. (Round to the nearest hundredth as needed.) ... Principal $12,000 Rate 8% Compounded semiannually Time 5 years
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