Answer:
The amount after 3 year at semi annually compound Interest is $52186.203
Step-by-step explanation:
Given as
The amount deposit at the end of every six months = $7500
Time period is 3 years ,
So principal for 3 years at $7500 for every six months = $7500 × 6 = $45,000
The rate of interest is 5% compounded semiannually
SO, Amount = Principal [tex](1 + \frac{Rate}{2 \times 100})^{2 \times time}[/tex]
or, Amount = $45,000 [tex](1 + \frac{5}{2 \times 100})^{2 \times 3}[/tex]
or, Amount = $45,000 (1 + \frac{5}{200})^{6}
Or, Amount = $45,000×1.1596
So, Amount = $52186.203
Hence The amount after 3 year at semi annually compound Interest is $52186.203 Answer
