Answer
a) $11605.41$
b) $13468.55$
c) $15630.8$
Work Step by Step
In $A(t)=P(1+\frac{r}{n})^{nt}$ for compound interest, $P,r,n,t$ respectively stand for the principal, interest rate per year, the number of times the interest is compounded per year and the number of years. $A(t)$ is the amount after $t$ years. So if we invest $P=10000$ at an interest rate of $r=0.03$ compounded semiannually ($n=2$), the amount after $t$ years is:
a) $A(5)=10000(1+\frac{0.03}{2})^{2(5)}\approx11605.41$
b) $A(10)=10000(1+\frac{0.03}{2})^{2(10)}\approx13468.55$
c) $A(15)=10000(1+\frac{0.03}{2})^{2(15)}\approx15630.8$
