SOLUTION: The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal $7000 Rate 7% Compounded semiannually Ti

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Question 1205312: The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate.
Principal
$7000
Rate
7%
Compounded
semiannually
Time
4 years
A. Find how much money there will be in the account after the given number of years.
B. Find the interest earned.
Answer by josgarithmetic(39617) About Me  (Show Source):
You can put this solution on YOUR website!
rate in each period is 3.5%, for 8 periods.


Ending Balance, 7000%281.035%29%5E8