Lyle plans to invest $2,000 at the end of each 6-month period into a retirement account that earns an annual rate of 16% compounded semiannually. If he continues with his plan for 3 years, use the Future Value of an Annuity of 1 table below to determine how much will be accumulated in the account on the date of his last deposit?

 

4 Periods 8% 1 3 2 9% 10% 1.0000 1.0000 1.0000 1.0000 2.0800 2.0900 2.1000 3.2464 3.2781 3.3100 4.5061 4.5731 4.6410 5 5.8666 5.9847 6.1051 6 7.3359 7.5233 7.7156