Sam, a Friend of Pam, Made a Similar Investment of $20,000

Multiple Choice

Sam, a friend of Pam, made a similar investment of $20,000 at a much later date when he turned 35. Now that he is also 50, what is his investment worth if his investment also an earned an interest rate of 6.5% compounded semi-annually.

A) $52,207.37
B) $44,491.96
C) $32,500
D) None of these