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OpenStudy (anonymous):
Anne Katz, owner of Katz Sport Shop, loans $8,000 to Shelley Slater to help her open an art shop. Shelley plans to repay Anne at the end of 8 years with interest compounded semiannually at 8 percent. At the end of 8 years, Anne will receive: (Use the tables in the handbook)
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OpenStudy (anonymous):
8000*(1+.08/2)^(8*2) =8000*(1.04)^16 =$14,983.85
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