Tracy Invested $\$ 6000$ At an Interest Rate Of $3 \%$ For 2 Years, Where the Interest Was Compounded Semiannually

question 9

Multiple Choice

Tracy invested $\$ 6000$ at an interest rate of $3 \%$ for 2 years, where the interest was compounded semiannually. If $A = P \left( 1 + \frac { r } { n } \right) ^ { n t }$ calculate the accumulated amount.

• A)$636.82
• B)$12,736.36
• C)$6,368.18
• D)$25,472.73

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An entity or structured group that sets accounting standards, rules, and provides guidance for accounting practices and procedures.

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A legitimate business structure involving two or more people who jointly manage and benefit from the profits.

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A set of accounting standards and practices that are used in the preparation of financial statements in the United States.