Solve the problem.Letitia borrows $3750 at a rate of 10.5% compounded semiannually. Find how much Letitia owes at the end of 5 years.Use: A = P
ntwhere:A = final amountP = $3750 (the amount borrowed)r = 10.5% = 0.105 (the annual rate of interest)n = 2 (the number of times interest is compounded each year)t = 5 (the duration of the loan in years)
A. $4843.30
B. $39,468.75
C. $6880.90
D. $6255.36
Answer: D
Mathematics
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A.
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