Interest on $2,630 at 3% Compounded Semiannually for Five Years

question 20

Multiple Choice

Interest on $2,630 at 3% compounded semiannually for five years is:

• A) $304.90
• B) $414.49
• C) $569.92
• D) $418.96
• E) None of these

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Definitions:

Ethanol Fuel

A biofuel alternative to gasoline, made from corn, sugarcane, or other plant biomass, which is used to power vehicles and reduce greenhouse gas emissions.

Aging Process

The natural sequence of physical, psychological, and social changes that occur as living beings advance in age.

Tomatoes

A widely cultivated fruit, botanically a berry, consumed in diverse ways, including raw, as an ingredient in many dishes and sauces, and processed into products like ketchup.

Population

The total number of people inhabiting a particular area, region, or country.