If you invest $7,300 at 7% compounded semi-annually for 3 years, what is the total value? answer

The appropriate formula for "compound amount" is

A = P (1 + r/n) ^ (nt). n is the # of compoundings per year (2). r is the interest rate as a decimal fraction. Thus,

A = $7300 (1 + 0.07/2) ^ (2*3) = $8975.56 (answer)