Basic College Mathematics (9th Edition)

Published by Pearson
ISBN 10: 0321825535
ISBN 13: 978-0-32182-553-7

Chapter 6 - Percent - 6.8 Compound Interest - 6.8 Exercises - Page 456: 26

Answer

Compound Amount: 11524.50 Interest: 3724.50

Work Step by Step

Compound interest table for 5%, 8 years is 1.4775 $7800\times1.4775 = 11524.50$ (compound amount) $11524.50 - 7800 = 3724.50$ (interest)
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.