QuestionInvest \$6000 at 4\% for 5 years, compounded semiannually. Find the amount after 5 years (round to nearest cent).

Studdy Solution
Calculate the final amount.
$$A = \$6000 \times (1.02)^{10} = \$7298.63$$The amount in the account after5 years if the account is compounded semiannually is \$7298.63.