Congratulations! You Have Been Accepted to Study Gourmet Cooking at the Cordon-Bleu

Multiple Choice

Congratulations! You have been accepted to study gourmet cooking at the Cordon-Bleu Cooking School in Paris.You will need $10,000 every 6 months (beginning today) for the next three years to cover tuition and living expenses.Mom and Dad have agreed to pay for your education,and want to make one deposit today in a bank account earning 6% interest,compounded semi-annually.How much must they deposit now so that you can withdraw $10,000 at the beginning of each semester over the next 3 years?

A) $54,172
B) $55,797
C) $57,422
D) $56,604