For this problem we can use the compund interest formula given by:
[tex]A=P(1+\frac{r}{n})^{nt}[/tex]Where
A= the future value, P = present value, r= rate of interest, n the number of times that the rate is compounded in a year and t the number of years.
For this particular problem A=5500, r=0.05, n=2 (since the rate is semiannually), t=5 years.
If we replace in the formula we got:
[tex]A=5500(1+\frac{0.05}{2})^{2\cdot5}=5500(1.025)^{10}=7040.46[/tex]