Answer:
$2479.02
Step-by-step explanation:
The invested amount is $2000 at a rate of 2.4% which compounds semiannually.
Therefore, the semiannual interest rate is [tex]\frac{2.4}{2} = 1.2[/tex]%.
Then the principal is compounded (9 × 2) = 18 times within a period of 9 years.
If there is no withdrawal from the account, then after 9 years the sum will become
[tex]2000(1 + \frac{1.2}{100} )^{18} = 2479.02[/tex] dollars {Rounded to the nearest cent} (Answer)
