what would be the amount of compound interest on %6,000 invested for 2 years att 9%, compounded semiannually? round your answer to the nearest dollar

Principal P=6000$

Interest = 9% p.a. = 4.5% /6 months

Principal and interest after 2 years
= 6000 * (1.045)4
= 6000 * 1.1925186
= 7155.11
Interest after two years
= 7155.11 - 6000
= 1155.11$

8,450. The terms of sale are 2/10, n/30.

To calculate the compound interest on an investment, we need to use the formula:

A = P(1 + r/n)^(nt)

Where:
A = the future value of the investment (including interest)
P = the principal amount (the initial investment)
r = the annual interest rate (as a decimal)
n = the number of times interest is compounded per year
t = the number of years the money is invested for

In this case, the principal amount (P) is $6,000, the annual interest rate (r) is 9% (or 0.09 as a decimal), the number of times interest is compounded per year (n) is 2 (compounded semiannually), and the number of years (t) is 2.

Plugging in these values into the formula:

A = 6000(1 + 0.09/2)^(2*2)

Simplifying:

A = 6000(1 + 0.045)^4
A = 6000(1.045)^4

Calculating:

A ≈ 6000(1.19371)
A ≈ $7,162.26

The future value of the investment after 2 years, including compound interest, is approximately $7,162.26.

To find the amount of compound interest, we subtract the principal amount from the future value:

Compound Interest = A - P
Compound Interest = $7,162.26 - $6,000
Compound Interest ≈ $1,162.26

Therefore, the amount of compound interest on $6,000 invested for 2 years at 9%, compounded semiannually, would be approximately $1,162.26 (rounded to the nearest dollar).