Question 977771
Manually calculate the compound interest on an investment of $7,500 at 6% interest, compounded semiannually, for 1 year.
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6% per year = 3% per period = 0.03/period
Doing it manually doesn't mean having someone do it for you.
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7500*1.03 = AMT1
AMT1*1.03 = AMT2 for 1 year.
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