Answer
Compound Amount: 19911.04
Interest: 9438.16
Work Step by Step
Compound interest table for 5.5%, 12 years is 1.9012
$10472.88\times1.9012 = 19911.04$ (compound amount)
$19911.04 - 10472.88 = 9438.16$ (interest)
Basic College Mathematics (10th Edition)
by Lial, Margaret L.; Salzman, Stanley A.; Hestwood, Diana L.
Published by
Pearson
ISBN 10:
0134467795
ISBN 13:
978-0-13446-779-5
Chapter 6 - Percent - 6.8 Compound Interest - 6.8 Exercises - Page 454: 28
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