Which of the following amounts is closest to the end value of investing $7,500 for 2.5 years at an effective annual interest rate of 12.36%. Interest is compounded semiannually.
A) $7,531
B) $8,427
C) $9,469
D) $9,818
E) $10,037

Question

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The Answer of Which of the following amounts is closest to the end value of investing $7,500 for 2.5 years at an effective annual interest rate of 12.36%. Interest is compounded semiannually.
A) $7,531
B) $8,427
C) $9,469
D) $9,818
E) $10,037

Which of the Following Amounts Is Closest to the End