PLEASE HELP compund intrest?

Question

i need help with this quiestion

$5700 is compounded semiannually at a rate of 5%. Find the total amount of compound interest earned at the end of 15 years. (The compound interest factor is 2.09757.)

Answer 1

Interest is compounded semi-annually. So the multiplication factor is 1.025 raised to the number of half-years. In this case, 30 half years are there. So, 1.025^30 = 2.098 or so. So, your answer is correct.

So, 5700 becomes 11831 dollars and the interest earned is 11831 - 5700 = 6131 dollars