Find the Compound Interest Earned

question 89

Multiple Choice

Find the compound interest earned. Round to the nearest cent.
-$700 at 8% compounded semiannually for 4 years

• A) $252.34
• B) $595.65
• C) $258.00
• D) $118.90

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Definitions:

Starting

The act or process of initiating or beginning something, such as a project, activity, or conversation.

Profits

The financial gain obtained when the revenue generated from business activities exceeds the expenses, costs, and taxes involved in sustaining the activity.

Private Practices

Independent business ventures where professionals offer their services to clients on a fee-for-service basis, often in healthcare.

First Years

The initial period or early stages of an event, process, or individual's life, often characterized by learning and growth.