Answer:
$63,265.95
Explanation:
The computation of the amount invested growing in 3 years is shown below:
Accumulated Sum = Amount Invested * (1 + Semiannual rate of interest )^Semiannual time Period
= $50,000 * 1.04^6
= $50,000 * 1.265319
= $63,265.95
Hence, the amount invested growing in 3 years is $63,265.95
We simply applied the above formula
