Monika invests in a real estate project that earns 6.5% compounded semiannually. If Monika's initial deposit is $10,000, how much interest will the investment earn in 8 years? (Round your answer to the nearest cent.)

We can solve this problem using the formula for compound interest:

\[
A = P \left(1 + \frac{r}{n}\right)^{nt}
\]

Where:
- $A$ is the final amount

Monika invests in a real estate project that earns 6.5% compounded semiannually. If Monika's initial deposit is $10,000, how much interest will the investment earn in 8 years? (Round your answer to the nearest cent.)

Learn how to calculate compound interest on a $10,000 investment at a 6.5% semiannual rate over 8 years. This problem covers key financial concepts, including the compound interest formula, and is suitable for students in Grades 9-12. Detailed step-by-step solution included.

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