Answer: $54,520.10
Explanation:
A = P(1 + r/n)^nt
A being the amount after interest
P being $12000
r being .07 (7% interest)
n being 2 (semiannual)
t being the amount of years its being compounded for, 22
Setting it up,
A = 12000(1 + .07/2) ^2x22
A = 12000(1.035)^44
A = 12000(4.54334159549)
A = 54520.0991459
A = 54520.10