Answer:
$18,938.90
Step-by-step explanation:
The formula for compound interest is A=P(a+r/n)^n(t)
A= final amount
P= original amount
r= interest rate
n = number of times interest is compounded
t= time
so in this case your formula will look like A= 8000(1+.18/2)^2(5)
your n amount is 2 because you are compounding semi annually so twice a year and your t is 5 because you are looking for the amount after 5 years. Therefore A = 18938.9
