38.

You place $1,000 in an account that pays 6.00% interest compounded continuously. You plan to hold the account exactly 3 years. Simultaneously, in another account you deposit money that earns 8.40% compounded semiannually. If the accounts are to have the same amount at the end of the 3 years, how much of an initial deposit do you need to make now in the account that pays 8.40% interest compounded semiannually? Do not round your intermediate calculations.

a. $935.33

b. $1,005.16

c. $880.86

d. $939.91

e. $930.53