Your bank pays an interest rate quoted as 5.0% per annum compounded semi-annually. You invest $1,000 into the bank now for a 5 year period. What will your balance be after 5 years? (Do not round...

Extracted text: Your bank pays an interest rate quoted as 5.0% per annum compounded semi-annually. You invest $1,000 into the bank now for a 5 year period. What will your balance be after 5 years? (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.)