The Managers of a Pension Fund Invested $4 Million in Government

Multiple Choice

The managers of a pension fund invested $4 million in government bonds paying 7.71% annual interest, compounded semiannually.After 3 years, what will the investment be worth? Round your answer to
The nearest thousand dollars.

A) $8.159 million
B) $6.169 million
C) $5.019 million
D) $6.019 million
E) none of the above