Answer:
$9142.46
Step-by-step explanation:
Use the compounded interest formula: [tex]A=P(1+\frac{r}{m} )^{m*t}[/tex]
Where
A is the accumulated amount after compounding (our unknown)
P is the principal ($7500 in our case)
r is the interest rate in decimal form (0.05 in our case)
m is the number of compositions per year (2 in our semi-annually case)
and t is the number of years (5 in our case)
[tex]A=P(1+\frac{r}{m} )^{m*t}= 7500 (1+\frac{0.05}{2} )^{2*5} =9142.4581996....[/tex]
We round the answer to $9142.46
