5 Keisha borrowed $8000 at a rate of 9.5%, compounded semiannually. Assuming she makes no payments, how much will she owe after 9 years?
Do not round any intermediate computations, and round your answer to the nearest cent.

Keisha will owe $18444.32 after 9 years

Step-by-step explanation:

Compound Interest

It occurs when the interest is added to the principal rather than paying it in.

It basically means paying interest over interest.

The formula is:

Where:

A=final amount

P=initial principal balance

r=interest rate

n=number of times interest applied per time period

t=number of time periods elapsed

Keisha borrowed P = $8000 at a rate of r = 9.5% = 0.095 (assumed annual rate) compounded semiannually (twice a year).

If she makes no payments, the amount she owes increases over time. After t = 9 years, we can calculate the amount owed by using the above formula.

Please, note that since there are 2 compounding periods per year, n = 2, thus:

Operating:

A = $18444.32

Keisha will owe $18444.32 after 9 years

52 \43 i don't know this i tried

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step-by-step explanation: