Answer:
$ 5674.076
Step-by-step explanation:
The question is on compound interest
The formulae = A= P(1+ r/n) ^nt .......where P is the principal amount, r is the rate of interest in decimal, n is number of compoundings per year and t is the total number of years.
Given; P= $4,000.00 , r=12/100=0.12, n=2 and t=3
Substituting values in the equation A= P(1+ r/n) ^nt
A= 4000 ( 1+0.12/2)^2×3
A=4000(1.06)^6
A=$ 5674.08
