Anne Katz, the owner of Katz Sport Shop, lends $8,000 to Shelley Slater to help her open an art shop. Shelley plans to repay Anne at the end of eight years with interest compounded semiannually at 8%. At the end of eight years, Anne will receive
A) $14,983.85
B) $16,857
C) $16,587
D) $14,484
E) None of these
Correct Answer:
Verified
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