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Assume that you can invest to earn a stated annual rate of return of 12%, but where interest is compounded semiannually. If you make 20

Assume that you can invest to earn a stated annual rate of return of 12%, but where interest is compounded semiannually. If you make 20 consecutive semiannual deposits of $500 each, with the first deposit being made at the end of the year, what will be your balance be at the end of Year 10?

A. $ 15,000

B. $ 16,880

C. $ 18,393

D. $ 36,026

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