Hope Dearborn invests $40,000 on January 1, 2016, in a savings account that earns interest of 8% compounded semiannually. What will be the amount in

Hope Dearborn invests $40,000 on January 1, 2016, in a savings account that earns interest of 8% compounded semiannually. What will be the amount in the fund on December 31, 2021?