Question 843046
We use the formula FV = PV*(1+r/n)^(n*t) where,


FV = future value (currently unknown)
PV = present value (in this case, it's the amount invested, so PV = 5000)
r = interest rate as a decimal (r = 8/100 = 0.08)
n = compounding frequency (semiannual means twice a year, so n = 2)
t = time in years (t = 7 years in this case)


Plug in PV = 5000, r = 0.08, n = 2, t = 7 into the formula to get...



FV = PV*(1+r/n)^(n*t)


FV = 5000*(1+0.08/2)^(2*7)


FV = 8658.38223801402 ... use a calculator here


FV = 8658.38 ... round to the nearest penny


So the future value is <font color="red">$8,658.38</font>