document.write( "Question 1144671: When Claudia borrowed $6400 at 11% compounded semiannually for three years, the value of the rate per period was?
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Algebra.Com's Answer #765851 by Theo(13342)\"\" \"About 
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11% per year compounded semi-annual;y is equal to 11/2 = 5.5% per semi-annual period.
\n" ); document.write( "3 years is 6 semi-annual periods
\n" ); document.write( "f = p * (1 + r) ^ n
\n" ); document.write( "f is the future value
\n" ); document.write( "p is the present value
\n" ); document.write( "r is the interest rate per time period.
\n" ); document.write( "n is the number of time periods.
\n" ); document.write( "formula becomes f = 6400 * (1 + .055) ^ 6
\n" ); document.write( "solve for f to get f = 8824.593963\r
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