+21 $1000 deposited every six months for 6 years at 5 1/2 % compounded semiannually.
+36916 Payment made at end of periods so 'ordinary annuity' calculation
FV = PMT * [ (1+r)n -1 ] / r r = decimal interest for period (period is 6 months) = .055/2
n = number of periods 6 x 2 = 12
PMT = 1000
FV = how much it is worth at the end of 6 years
plug in the numbers to get $ 13992.14
