suppose that $2000 is loaned at a rate of 17%, compounded semiannually. assuming that no payments are made…

Explanation:

Step1: Identify compound - interest formula

The compound - interest formula is $A = P(1+\frac{r}{n})^{nt}$, where $A$ is the amount of money accumulated after $n$ years, including interest, $P$ is the principal amount (the initial amount of money), $r$ is the annual interest rate (in decimal form), $n$ is the number of times that interest is compounded per year, and $t$ is the time the money is invested or borrowed for in years.

Step2: Convert given values to correct form

The principal $P=$2000$, the annual interest rate $r = 17%=0.17$, the number of times compounded per year $n = 2$ (since it's compounded semiannually), and the time $t = 10$ years.

Step3: Substitute values into the formula

$A=2000(1 +\frac{0.17}{2})^{2\times10}=2000(1 + 0.085)^{20}$.

Step4: Calculate the value inside the parentheses first

$1+0.085 = 1.085$.

Step5: Calculate the exponent

$(1.085)^{20}\approx4.661032$.

Step6: Multiply by the principal

$A = 2000\times4.661032=$9322.064$.

Answer:

$$9322.06$