Please Help!!!!

Christine borrowed $8000 at a rate of 11%, compounded semiannually. Assuming she makes no payments, how much will she owe after 8 years?

8000(1+0.11/2)^(2*8) = ?

To calculate the amount Christine will owe after 8 years, we can use the formula for compound interest:

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

Where:
A = the future value of the loan (amount she will owe)
P = the principal amount (initial loan amount)
r = the annual interest rate (as a decimal)
n = the number of times the interest is compounded per year
t = the number of years

In this case, we have:
P = $8000 (principal loan amount)
r = 11% (annual interest rate)
n = 2 (compounded semiannually)
t = 8 (number of years)

To calculate A, we substitute these values into the formula:

A = 8000(1 + 0.11/2)^(2 * 8)

Now we can simplify the calculation:

A = 8000(1 + 0.055)^16

A = 8000(1.055)^16

To calculate (1.055)^16, you can use a calculator or a spreadsheet software.

After calculating (1.055)^16, multiply the result by 8000 to find the total amount Christine will owe after 8 years with compound interest.