Answer
$2963.11
Work Step by Step
We are asked to find the amount of interest accrued. Using the given numbers, we find:
$$A=1600(1+.09/2)^{2*7}$$
$$A=1600(1+.09/2)^{14}$$
Then, follow PEMDAS. In other words, first address parentheses, and then resolve exponents. Next, simplify division and multiplication, and lastly address subtraction and addition.
2963.11 dollars
