Baba Lou plans to retire in 20 years. At that point he plans to collect payments at the end of every six months that are 2% larger than the previous payment and this is to continue for 30 years. The first payment will be $16,500. His retirement plan is expected to earn 7% compounded semi-annually after he retires and 10% compounded annually before he retires. What single investment should he make now to fund the whole retirement plan? Multiple Choice $241,917 $316,443 $68,590 $641,877 $95,411