Solve the application problem. Round to the nearest cent.
How much should be deposited semiannually into a sinking fund over 5 years to accumulate $159,000 if the money earns 8% compounded semiannually?
A. $9,544.77
B. $13,869.57
C. $13,243.11
D. $27,103.14
Answer: C
Mathematics
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