document.write( "Question 961374: Kyle Wong loans $12,000 to his brother-in-law. He will be repaid at the end of 9 years with interest at 8% compounded semiannually. Find out how much will be repaid. \n" ); document.write( "
Algebra.Com's Answer #843973 by mananth(16946)\"\" \"About 
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Kyle Wong loans $12,000 to his brother-in-law. He will be repaid at the end of 9 years with interest at 8% compounded semiannually. Find out how much will be repaid.\r
\n" ); document.write( "\n" ); document.write( "Compound interest formula\r
\n" ); document.write( "\n" ); document.write( "A= P(1+r/n)nt\r
\n" ); document.write( "\n" ); document.write( "A = Amount
\n" ); document.write( "P is the principal $12000
\n" ); document.write( "r= rate in decimal 8%= 0.08
\n" ); document.write( "n is the number of times that interest is compounded per unit 2 timesper year
\n" ); document.write( "t is the time the money is invested for, in years=9 years\r
\n" ); document.write( "\n" ); document.write( "A= 12000(1+0.08/2)^2*9\r
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\n" ); document.write( "\n" ); document.write( "A = 12000*1.04^18= $24309.80 \r
\n" ); document.write( "\n" ); document.write( "Amount to be repaid = $24309.80 \r
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