Calculate periodically compounded interest
Question
If $5,000 is borrowed with an interest of 12.3% compounded semi-annually, what is the total amou
pay it back in 3 years?
Round your answer to the nearest cent.
Do NOT round until you have calculated the final answer.

step-by-step explanation:

answers available in this download

(pearson%2c%25202012)%2520bbs.pdf& usg=aovvaw1obmtxnfghfgxhx0urh_je

nswer: a   y-axis

step-by-step explanation:

the answer is:

the correct option:

b.

to solve the problem, we need to remember how to operate to simplify exponential expressions using the logarithms.

we are given the equation:

then, using placing logarith with base 7 on both sides of the equation, we have:

so, rounding the obtained result to two decimal places (nearest hundreth), we have:

hence, we have that the correct option:

b.

have a nice day!

10

step-by-step explanation: