Given:
[tex]\begin{gathered} P=20,000 \\ t=6years \\ r=5.5\% \end{gathered}[/tex]
Required:
To find the accumulated value.
Explanation:
Consider
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]
Here
[tex]\begin{gathered} =20000(1+\frac{0.055}{2})^{2\times6} \\ \\ =20000(1+0.0275)^{12} \\ \\ =27,695.68 \end{gathered}[/tex]
Final Answer:
The accumulated value is $27,695.7
