**Quote:**

How come does the compound interest formula not render the same result?

It does. Note that the interest is compounded every 6 months, while the given interest rate is the annual one. So the formula to use is:

F = I × (1 +

*r*/

*n*)ⁿª, where

F – final amount

I – initial amount

*r* – annual interest rate

*n* – number of times the interest is compounded per year

*a* – number of years

The interest is compounded every 6 months, in other words twice a year. Plug it in the formula along with other values:

F = $6,000(1 + 0.06 / 2) ²

F = $6365.4