If $2956 is invested at 2.13% for 3 years, find the future value if the interest is compounded semi-annually. Round to the nearest cent. Do not put the $ in your answer or any units. Only type the number value.
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Step 1
The principal amount (P) is $2956, the annual interest rate (r) is 2.13%, the time (t) is 3 years, and the number of times the interest is compounded per year (n) is 2 (since it's compounded semi-annually). Show more…
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