Question 537756
Find the future value on $5,000 in three years if the interest is compounded semiannually at 12%.  

semiannually = 2x/yr

A=P(1+r/n)^nt

A = 5000(1+(.12/2))^2x3

A = 5000(1.06)^6

A= $7092.60  (7092.595561 rounded up to the nearest 2 decimal places)