Answer:
The investment will be worth $16898.67 after 17 years, compounded semiannually at 3.3% per year.
Explanation:
The compound interest formula is:
A = P * (1 + (r/n))^(nt)
where
A is the amount of the investment after t years,
P is the principal amount (9070),
r is the annual interest rate (3.3%),
n is the number of times the interest is compounded per year (2),
t is the number of years (17).
Using the formula:
A = 9070 * (1 + (0.033/2))^(2 * 17)
A = 9070 * (1.0165)^34
A = 9070 * 1.882611
A = 16898.67 to the nearest cent.
So the investment will be worth $16898.67 after 17 years, compounded semiannually at 3.3% per year.