A person deposits Q.5,000 in a savings account that pays 10% annual interest, convertible semi-annually. What will be the amount collected after 28 months?

Using simple interest formula, I=Prt, where I is the simple interest, P is the principal, r is the rate of interest and t is the time in years. I=(5000)(0.10)(28/12) I=(5000)(0.10)(7/3) I=1166.67 The amount after 28 months is Q.6166.67