Question 20 • Advanced Financial Algebra
Use the compound interest formula with P = 7,500, r = 0.06, n = 12, and t = 10. This gives 7,500(1 + 0.06/12)^(12 × 10) = 7,500(1.005)^120 ≈ $13,645.48. Elisa will have about $13,645.48, which is choice D.
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