Answer:
Zingie will pay back N$6333.63 on 20 July 2018.
Explanation:
To solve this problem, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
where A is the amount after t years, P is the principal (initial amount borrowed), r is the annual interest rate as a decimal, n is the number of times the interest is compounded per year, and t is the time in years.
In this case, P = N$3000, r = 0.07 (since the interest rate is 7% per year), n = 2 (since the interest is compounded half-yearly), and t = 10.5 (since the loan was taken on 01 January 2008 and we want to find the amount on 20 July 2018, which is 10.5 years later).
Plugging in these values, we get:
A = 3000(1 + 0.07/2)^(2*10.5)
= 3000(1.035)^21
= 3000(2.111)
= N$6333.63