Jacqueline Is Considering Investing a Lump Sum of $100,000 Along

Multiple Choice

Jacqueline is considering investing a lump sum of $100,000 along with monthly payments of $1,600 per month over a 15-year period at an interest rate of 5.4% compounded semi-annually. Determine how much larger will the investment be in the 15^th year if payments were at the beginning of the month compared to the end of the month.

A) $1,908.13
B) $1,958.23
C) $2,040.44
D) $2,182.67
E) $2,389.83