5. find the compound amount. round to the nearest cent. amount = $15,520 rate = 6% compounded = semiannually time (years) = 4 6. find the interest earned. round to the nearest cent. amount = $15,520 rate = 6% compounded = semiannually time (years) = 4

5.
Principal Amount = $15,520
Interest rate = r = 6% = 0.06
Compounding Periods = n = 2
Time =t= 4 years

Formula to find compounding amount will be:



Using the values, we get:



Thus $19660.27 will be accumulated over a period of 4 years.

6. 
Principal Amount = $ 15520
Amount Accumulated = $ 19660.27

Interest Earned =  Amount Accumulated - Principal Amount
Interest Earned = 19660.27 - 15520 = $4140.27

Therefore, an interest of $4140.27 will be earned over a period of 4 years.

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