1. **State the problem:** We need to find the future value of a $9000 investment with an annual interest rate of 4.67%, compounded semi-annually, over 11 years. 2. **Formula used:** The future value $A$ of an investment compounded $n$ times per year is given by: $$A = P \left(1 + \frac{r}{n}\right)^{nt}$$ where: - $P$ is the principal amount (initial investment), - $r$ is the annual interest rate (decimal), - $n$ is the number of compounding periods per year, - $t$ is the number of years. 3. **Identify values:** - $P = 9000$ - $r = 4.67\% = 0.0467$ - $n = 2$ (semi-annually) - $t = 11$ 4. **Substitute values into the formula:** $$A = 9000 \left(1 + \frac{0.0467}{2}\right)^{2 \times 11}$$ 5. **Simplify inside the parentheses:** $$1 + \frac{0.0467}{2} = 1 + 0.02335 = 1.02335$$ 6. **Calculate the exponent:** $$2 \times 11 = 22$$ 7. **Calculate the future value:** $$A = 9000 \times 1.02335^{22}$$ 8. **Evaluate the power:** $$1.02335^{22} \approx 1.63862$$ 9. **Multiply to find $A$:** $$A = 9000 \times 1.63862 = 14747.58$$ **Final answer:** The future value of the investment is approximately $14747.58$.