Chris Wants to Accumulate $100,000 in 5 Years $\bold{\text{(Use appropriate factor(s)from the tables provided.)}}$

question 3

Multiple Choice

Chris wants to accumulate $100,000 in 5 years.He plans on making equal semiannual deposits into an investment account that earns 12% semiannually in order to reach his goal.How much must Chris invest every six months? (PV of $1,FV of $1,PVA of $1,and FVA of $1) $\bold{\text{(Use appropriate factor(s) from the tables provided.) }}$

• A)$24,331.19
• B)$10,153.39
• C)$13,586.77
• D)$10,000.00
• E)$7,586.79

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