Ed Sloan Invests $1,600 at the Beginning of Each Year

Multiple Choice

Ed Sloan invests $1,600 at the beginning of each year for eight years into an account that pays 10% compounded semiannually. The value of the annuity due is (use the tables in the handbook) :

A) $41,344.48
B) $1,600.00
C) $38,744.48
D) $37,744.48
E) None of these