In the question we are given the following parameters
Principal = $5100
Rate = 16.87% compounded semi-annually
Time = 46 months = 3yrs 10 months = 3 5/6 years
Explanation
We can solve the question using the formula below
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]
"nt" is the number of months the principal accrues interest twice a year.
Therefore we have;
[tex]\begin{gathered} A=5100(1+\frac{16.87\div100}{2})^{\frac{23}{6}\times2} \\ A=5100(1+0.08435)^{\frac{23}{3}} \\ A=5100(1.08435)^{\frac{23}{3}} \\ A=9488.62 \end{gathered}[/tex]
Answer:$9488.62
