Business Investment A firm of attorneys deposits $5000 of profit-sharing money at the end of each semiannual period for years. Find the final amount in the account if the deposits earn 10% compounded semiannually.

10,000 a year is deposited with the deposits earning 20% a year...

But you do not state how many years the money is deposited?

As Lynn stated, you did not specify how many years.

For simplicity's sake, let's say they did this for 8 years

amount = 5000 [ (1+.05)^16 - 1 ]/.05
= 118287.46

notice I divided the rate by 2, since it is compounded semiannually, and doubled the years, because there are 16 half-years in 8 years

Whatever time you need, make the appropriate changes

To find the final amount in the account, we need to use the formula for compound interest:

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

where:
A is the final amount
P is the principal amount (initial deposit)
r is the annual interest rate (expressed as a decimal)
n is the number of times interest is compounded per year
t is the number of years

In this case, the principal amount is $5000 since that is the deposit made at the end of each semiannual period. The annual interest rate is 10%, which is 0.10 as a decimal. The interest is compounded semiannually, so n = 2. We are depositing the money for "years," but the term is not mentioned in the question. Let's assume the term is 5 years.

Using the formula, we can calculate the final amount:

A = $5000(1 + 0.10/2)^(2*5)
A = $5000(1 + 0.05)^10
A = $5000(1.05)^10

Calculating the value of (1.05)^10, we get approximately 1.62889.

A = $5000(1.62889)
A ≈ $8144.45

Therefore, the final amount in the account, after 5 years, would be approximately $8144.45.