Find the Compound Interest Earned

question 19

Multiple Choice

Find the compound interest earned. Round to the nearest cent. Do not use an interest table.
-$2,000 at 10% compounded semiannually for 3 years

• A)$600.00
• B)$662.00
• C)$680.19
• D)$1,543.12

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Definitions:

Normal Curve

A bell-shaped curve that represents the distribution of scores or variables where most measurements are concentrated around the mean in a symmetric way.

Normal Distribution

Symmetrical distribution of values with the majority of scores “peaking” in the middle.

Inferential Statistics

Statistics that estimate the values for a population from a sample of that population.

Sample Sizes

The number of observations or units chosen from a population for study, crucial for ensuring the statistical reliability of research findings.