BrightFuture Bank offers a savings account with a $⁢2,000 initial deposit and a 6% annual interest rate, compounded semiannually. They claim that the balance will double in 6 years. Is this claim true?

With semiannual compounding, the account earns 6% ÷ 2 = 3% each half-year. Over 6 years there are 12 half-year periods, so the balance is $2,000 × 1.03^12 ≈ $2,852. That is less than $4,000, so the claim is false; choice A is correct.

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