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If $5,000 Is Deposited at the End of Each Half

Question 7

Multiple Choice

If $5,000 is deposited at the end of each half year in an account that earns an annual rate of 6.0% compounded semiannually, how long will it be before the account contains $145,000? Round your answer to two decimal places. ​


A) 8.88 half years
B) 53.56 half years
C) 45.78 half years
D) 35.67 half years
E) 21.18 half years

Correct Answer:

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