Question

if $6700 is invested at 4.6% interest compounded semiannually, how much will the investment be worth in 15 years???

Answer 1

$6700(1+ \frac{4.6}{100} )^{15}$

Answer 2

The correct equation to use is as follows:
$A=P(1+\frac{r}{n})^{nt}$
where A is the amount after t years, P is the principal, r is the annual interest rate expressed as a decimal and n is the number of times the interest is compounded in a year.
Plugging in the given values we get:
$A=6700(1+\frac{0.046}{2})^{(2\times 15)}$
After 15 years the investment will be worth $13,253.90