Suppose that 2000 is invested at a rate of 2.4% , compounded semiannually. assuming that no withdrawals are made, find the total amount after 9 years.
do not round any intermediate computations, and round your answer to the nearest cent.

$2479.02

Step-by-step explanation:

The invested amount is $2000 at a rate of 2.4% which compounds semiannually.

Therefore, the semiannual interest rate is %.

Then the principal is compounded (9 × 2) = 18 times within a period of 9 years.

If there is no withdrawal from the account, then after 9 years the sum will become

dollars {Rounded to the nearest cent} (Answer)