Chris wants to accumulate $101,000 in 4 years. He plans on making equal semiannual deposits into an investment account that earns 8% semiannually in order to reach his goal. How much must Chris invest every six months? (PV of $1, FV of $1, PVA of $1, and FVA
of $1) (Use appropriate factor(s) from the tables provided.)
A. $13,017.84
B. $12,625.00
C. $10,961.34
D. $16,305.08
E. $15,001.32
Answer: C
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