Use a table or formula to solve the problem.
Jenny Sherrer has $23,000 to invest and believes that she will earn 8% compounded semiannually. Find the future value amounts if she invests for 4 years and for 7 years. Then find the additional amount earned due to the longer period.
A. $12,921.86
B. $8351.53
C. $24,983.98
D. $3359.61
Answer: B
Mathematics
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