Solve the application problem. Round to the nearest cent.Find the least amount that could be deposited in a bank account today at 5% compounded semiannually to allow $1875 withdrawals at the end of each 6 months for 11 years.

A. $118,564.86
B. $31,435.14
C. $30,346.03
D. $32,497.71


Answer: B

Mathematics

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B.
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