Answer:
Final amount = $4279.667.
Step-by-step explanation:
Formula to get the final amount after 't' years is,
Final amount = ![\text{Initial amount}\times (1+\frac{r}{n} )^{nt}](https://tex.z-dn.net/?f=%5Ctext%7BInitial%20amount%7D%5Ctimes%20%281%2B%5Cfrac%7Br%7D%7Bn%7D%20%29%5E%7Bnt%7D)
Here 'r' = rate of interest
t = Number of years for the investment
n = Number of compounding in a year
Now we substitute the data given in the question,
Initial amount = $2500
r = 1.8% = 0.018
n = Semi annually = 2
t = 30 years
Final amount = ![2500(1+\frac{0.018}{2})^{(2\times 30)}](https://tex.z-dn.net/?f=2500%281%2B%5Cfrac%7B0.018%7D%7B2%7D%29%5E%7B%282%5Ctimes%2030%29%7D)
= ![2500(1.009)^{60}](https://tex.z-dn.net/?f=2500%281.009%29%5E%7B60%7D)
= 4279.667
Therefore, final amount will be $4279.667.