Answer:
She owe $37736.96 after 9 years .
Step-by-step explanation:
Debra borrowed $8000 at a rate of 18% compounded semiannually
We are supposed to find how much will she owe after 9 years
Principal = 8000
Rate of interest = 18% =0.18
No. of compounds per year = 2
Time = 9 years
Formula : [tex]A= P(1+\frac{r}{n})^{nt}[/tex]
Substitute the values in the formula :
[tex]A= 8000(1+\frac{0.18}{2})^{2 \times 9}[/tex]
A= 37736.96
Hence She owe $37736.96 after 9 years .
