Basic College Mathematics (10th Edition)

Published by Pearson
ISBN 10:
ISBN 13:

Chapter 6 - Percent - 6.8 Compound Interest - 6.8 Exercises - Page 454: 28

Answer

Compound Amount: 19911.04 Interest: 9438.16

Work Step by Step

Compound interest table for 5.5%, 12 years is 1.9012 $10472.88\times1.9012 = 19911.04$ (compound amount) $19911.04 - 10472.88 = 9438.16$ (interest)
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