Question 12 • Advanced Financial Algebra
There are 2 compounding periods per year for 7 years, so the total number of periods is 2 × 7 = 14. Using the given formula, A = 200 × ((1 + 0.035/2)^14 − 1) ÷ (0.035/2) ≈ $3,141.97. Rounded to the nearest dollar, the fund will contain $3,142, which is choice D.
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