Melanie invested $12,200 at 4.8% interest compounded semiannually and she wants to know how much her investment will be worth in 8 years.
What is the periodic interest rate of Melanie's investment?
How many compounding periods does Melanie's investment offer in a year? How about in 8 year?
What expression can Melanie write to figure out how much her investment will be worth in 8 years?
How much will Melanie's investment be worth in 8 years?
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