Question 1193551
P=400000*(1+(0.114/2)^40, the 40 is 2 times compounded per year for 20 years
Round at the end. $3,673,300
rough check: should double in about 6 years (slightly longer) due to the rule of 70. That is 3 doublings in 18 years, and the final amount is a little more than 9 times the original, which makes sense.