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28 November, 10:58

If $8,000 is deposited into an account and earns interest at a rate of 2.75% compounded semiannually, how much interest is earned after 5 years?

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  1. 28 November, 11:03
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    Answer: 9162.18

    Step-by-step explanation:

    8000 (1+.0275) ^5=9162.18675238

    simplify and it is 9162.18
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