Suppose that $2000 is loaned at a rate of 18.5%, compounded semiannually. Assuming that no payments are made, find the amount owed after 5 years. Do not round any intermediate computations, and round your answer to the nearest cent.

(0, 4)

x = 0

y = 4

General Formulas and Concepts:

Pre-Algebra

Order of Operations: BPEMDASEquality Properties

Algebra I

Solving systems of equations using substitution/elimination

Step-by-step explanation:

Step 1: Define systems

12x - 5y = -20

y = x + 4

Step 2: Solve for x

Substitution

Substitute in y:                              12x - 5(x + 4) = -20Distribute -5:                                  12x - 5x - 20 = -20Combine like terms:                     7x - 20 = -20Isolate x term:                               7x = 0Isolate x:                                        x = 0

Step 3: Solve for y

Define original equation:                    y = x + 4Substitute in x:                                     y = 0 + 4Add:                                                      y = 4