Answer:
Step-by-step explanation:
The formula for annual compound interest, including principal sum, is:
A = P (1 + r/n) (nt)
where
A = the future value of the investment/loan, including interest
P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per year
t = the number of years the money is invested or borrowed for
here
we have to found semianually
P= 2000
r= 11% =0.11
n=2 .... for semiannual
t =5
A = 2000( 1 +0.11 /2 )(2*5)
= 2000(1 +0.055)10
= 2000(1.055)10
= 2000(1.708)
=3416
