Question

Khang borrows $5000 at a rate of 10.5% compounded semiannually. Find how much Khang owes at the end of 5 years.

Use: A = P(1+r/n)^nt. Round to two decimal places.

A) $6457.74
B) $52,625.00
C) $8340.48
D) $9174.53

Answer 1

P = 5000
r = .105
n=2
t=5