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 (9th Edition)
by Lial, Margaret L.; Salzman, Stanley A.; Hestwood, Diana L.
Published by
Pearson
ISBN 10:
0321825535
ISBN 13:
978-0-32182-553-7
Chapter 6 - Percent - 6.8 Compound Interest - 6.8 Exercises - Page 456: 28
Update this answer!
You can help us out by revising, improving and updating this answer.
Update this answerAfter you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.
