The Managers of a Pension Fund Invested $2 Million in Government

Multiple Choice

The managers of a pension fund invested $2 million in government bonds paying 7.72% annual interest, compounded semiannually.After 3 years, what will the investment be worth? Round your answer to
The nearest thousand dollars.

A) $3.510 million
B) $2.510 million
C) $3.660 million
D) $5.650 million
E) none of the above