Solve the problem.You deposit  every 6 months into an annuity with an annual interest rate of , compounded semiannually. What is the balance after 20 years? What is the balance after 40 years?

A. $2977.81; $55,124.50
B. $2977.81; $9502.55
C. $9502.55; $55,124.50
D. $9502.55; $25,905.65


Answer: C

Mathematics

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Mathematics