When Jim Retires in 8 Years, He Expects to Live

Multiple Choice

When Jim retires in 8 years, he expects to live lavishly on the money in a retirement account that is earning 9% interest, compounded semiannually.If the account now contains $152,000, how much will
Be available at retirement?

A) $308,400.38
B) $307,500.60
C) $353,510.30
D) $307,500.26
E) $307,400.26