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28 August, 20:00

Suppose that $2000 is loaned at a rate of 18%, compounded semiannually. Assuming that no payments are made, find the amount owed after 9 years.

Do not round any intermediate computations, and round your answer to the nearest cent.

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  1. 28 August, 20:30
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    The answer to this problem is A=P (1+r/n) ^ (nt)
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