Question 1129695: Tina, the owner of a home and garden store, lends $8,000 to Lana to help her open an art shop. Lana plans to repay Tina at the end of eight years with interest compounded semiannually at 8%.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Tina, the owner of a home and garden store, lends $8,000 to Lana to help her open an art shop. Lana plans to repay Tina at the end of eight years with interest compounded semiannually at 8%.
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Assume you need to know what she owes.
A(t) = 8000(1+(0.0.08/2))^(2*8) = $14983.85
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Cheers,
Stan H.
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