Suppose You Put $100 into a Savings Account Today, the Account

Multiple Choice

Suppose you put $100 into a savings account today, the account pays a simple annual interest rate of 6 percent, but compounded semiannually, and you withdraw $100 after 6 months.What would your ending balance be 20 years afte initial $100 deposit was made?

A) $226.20
B) $115.35
C) $62.91
D) $9.50
E) $3.00