A bank features a savings account that has an annual percentage rate of r=3.5% with interest compounded semi-annually. Austin deposits $6,500 into the account.

The account balance can be modeled by the exponential formula S(t)=P(1+r/n)^nt , where S is the future value, P is the present value, r is the annual percentage rate, n is the number of times each year that the interest is compounded, and t is the time in years.

(A) What values should be used for P, r, and n?

P=..........................r=........................n=..........................

B) How much money will Austin have in the account in 10 years?