A young couple wants to have a college fund that will pay $25,000 at the end of each half-year for 8 years. If they can invest at annual rate of 8%, compounded semiannually, how much do they need to invest at the end of each 6-month period for the next 18 years in order to begin making their college withdrawals 6 months after their last investment? Round your answer to the nearest cent.
?
A. $6,186.94
B. $3,754.04
C. $12,292.74
D. $2,918.14
E. $1,823.25
Answer: B
Mathematics
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