Determine the Future Value of an Initial Deposit of $4,000

Multiple Choice

Determine the future value of an initial deposit of $4,000 and semi-annual contributions of $250 for the 3 years at a 6.3% rate of interest compounded monthly and then another lump sum deposit of $10,000 at the end of year 3 along with $375 quarterly deposits for 2 years at a rate of 5.4% interest compounded semi-annually.

A) $20,321.09
B) $20,935.64
C) $21,449.71
D) $22,051.87
E) $22,684.35