Find the Amount That Results from the Investment $\$ 14,000$ Invested At

question 298

Multiple Choice

Find the amount that results from the investment.
- $\$ 14,000$ invested at $15 \%$ compounded semiannually after a period of 9 years

• A) \(\$ 37,461.26\)
• B) \(\$ 51,461.26\)
• C) \(\$ 47,870.94\)
• D) \(\$ 49,250.27\)

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Definitions:

Compound Interest

Interest calculated on the initial principal and also on the accumulated interest of previous periods.

Future Value

The value of an investment at a specific future date, accounting for interest or returns earned over time.

Annuity Factor

A multiplier used to calculate the present value of an annuity, representing the sum of the present values of all future annuity payments.

Interest Rate

The percentage charged on the total amount of borrowed money or paid on invested capital.