Question 1165364
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<pre>

f = p * (1 + r) ^ n


f is the future value
p is the present value (one-time original deposit)
r is the interest rate per time period as a decimal number
n is the number of time periods.


in your problem:


p = 5600
f = what you want to find
r = 1.5% / 2  = .0075 semi-annually
n = 4*2 semi-annual periods


formula becomes f = {{{5600 * (1 + .0075) ^ 8}}} = 5944.95 dollars.    <U>ANSWER</U>
</pre>

Solved.


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To see many other similar solved problems on compounded interest accounts, &nbsp;look into the lesson

&nbsp;&nbsp;&nbsp;&nbsp;- <A HREF=https://www.algebra.com/algebra/homework/percentage/lessons/Compound-interest-percentage-problem.lesson>Compound interest percentage problems</A> 

in this site.