The Managers of a Pension Fund Invested $5 Million in Government

Multiple Choice

The managers of a pension fund invested $5 million in government bonds paying 6.83% annual interest, compounded semiannually.After 3 years, what will the investment be worth? Round your answer to
The nearest thousand dollars.

A) $7.266 million
B) $6.116 million
C) $7.116 million
D) $9.256 million
E) none of the above