If $1,500 is borrowed at an annual interest rate of 10% compounded semiannually, what is the amount owed after 1 year? - IQ786

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If $1,500 is borrowed at an annual interest rate of 10% compounded semiannually, what is the amount owed after 1 year?

If $1,500 is borrowed at an annual interest rate of 10% compounded semiannually, what is the amount owed after 1 year?

$1,552.25

$1,650.00

$1,550.00

$1,575.00

Explanation