Use the next formula:
[tex]A=P(1+\frac{r}{n})\placeholder{⬚}^{nt}[/tex]
A is the final amount after t years
P is the principal amount
r is the interest rate in decimal form
n is the number of times interest is compound
t is the time in years
For the given situation:
[tex]\begin{gathered} P=10,000 \\ r=0.1 \\ n=2 \\ t=16 \\ \\ A=10,000(1+\frac{0.1}{2})\placeholder{⬚}^{2*16} \\ \\ A=10,000(1+0.05)\placeholder{⬚}^{32} \\ \\ A=10,000(1.05)\placeholder{⬚}^{32} \\ \\ A=46,649.41 \end{gathered}[/tex]Then, In 16 years the bond will be worth $46,649.41
