Question

The interest on $6,000 at 6 percent compounded semiannually for 8 years is:

Answer 1

WHAT is the answer confused

Answer 2

ill do it

Answer 3

the above is wrong

Answer 4

I still dont know the answer

Answer 5

\[6000 ( 1+ \frac{0.06}{2})^{8 \times 2} - 6000 = 6000 [ (1.03)^{16} -1] = \$3628.24\]

Answer 6

That^ is the correct answer.

Answer 7

yup - my memory failed me im afraid

Answer 8

The answer is actually $3,628.20. Not sure if that's a typo or not. :)