Jeff Desires to Accumulate $13,603

Multiple Choice

Jeff desires to accumulate $13,603.83 by December 1, 2018. To accumulate that sum, he will make six equal semiannual deposits of $2,000, beginning on June 1, 2016, into a fund that earns interest compounded semiannually. What annual rate of interest must the fund provide to yield the desired sum?

A) 5%
B) 6%
C) 10%
D) 12%