A person invests $1875.00 at 6% compounded semiannually ........?

Question

A person invests $1875.00 at 6% compounded semiannually on October 1, 1998. If simple interest is allowed for part of an interest conversion period,

how much is the investment worth June 1, 2002?

Answer 1

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Hint: Just remember that the period doesn't end till June 30.