Step 1 :Given that Jose deposited $4000 into an account with 6% interest, compounded semiannually, we are to find how much he will have in the account after 10 years. The formula for future value (FV) in the case of compound interest is: \(FV = P * (1 + r/n)^{nt}\) where: P = principal amount (the initial amount of money), r = annual interest rate (in decimal), n = number of times that interest is compounded per year, and t = time the money is invested for in years.
Step 2 :In this case, P = $4000, r = 6% = 0.06, n = 2 (since interest is compounded semiannually), and t = 10 years.
Step 3 :We can plug these values into the formula to find the future value of the investment: \(FV = 4000 * (1 + 0.06/2)^{2*10}\)
Step 4 :Calculating the above expression, we get FV = 7224.44493867766
Step 5 :Rounding to the nearest cent, we get the final answer.
Step 6 :Final Answer: The amount Jose will have in the account after 10 years is approximately \(\boxed{7224.44}\)