Assume That You Can Invest to Earn a Stated Annual

Multiple Choice

Assume that you can invest to earn a stated annual rate of return of 12 percent,but where interest is compounded semiannually.If you make 20 consecutive semiannual deposits of $500 each,with the first deposit being made today,what will your balance be at the end of Year 20?

A) $52,821.19
B) $57,900.83
C) $58,988.19
D) $62,527.47
E) $64,131.50