What is the size of the payments that must be deposited at the beginning of each 6-month period in an account that pays an annual rate of 8%, compounded semiannually, so that the account will have a future value of $110,000 at the end of 11 years? Round your answer to the nearest cent.
?
A. $17,573.48
B. $7,842.69
C. $916.44
D. $3,088.34
E. $1,597.49
Answer: D
Mathematics
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Mathematics