You Invest $3800 In Savings Paying 5.5% Interest Compounded Semiannally For 5 Years. How Much Will Be In Savings In 5 Years?

After the first six months you will save an additional of $209.
Here is the calculation $3800*5.5% = $209
Hence for the next interest, it becomes $3800 + $209 = $4009
Compounding 5.5% for five years & ten times , the total savings amount will be $6490

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