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OpenStudy (anonymous):
Rigoberto invests $8,000, at 65 interest, compounded semiannually for 1 year. Use the compound interest formula to calculate the compound interest for his investment. a. $8,417.50 b. $400.00 c. $ 487.20 d. $8,400.00
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OpenStudy (anonymous):
Don't you mean 6% interest? (8000)(1.03)^2= future value = 8487.20 subtract his investment to get his interest.
OpenStudy (anonymous):
$8,487.20-$8,000.00=$487.20
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