The amount of $20, 000 is deposited in a bank that pays interest at the rate of 6% per year compounded semiannually. Using the compound interest formula A(t) = P(1 + r/m)^mt , answer the following questions. Round the answer to the number of decimals indicated in the brackets after each question. [1] (a) What is the accumulated amount in 5 years? (two decimals) [1] (b) What is the interest earned in 5 years? (two decimals) [4] (c) How long will it take to double the investment? (one decimal)

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