Mr. Joseph will need 6 million baht to replace the machine for his factory in 5 years. He makes semi-annual deposit of 400,000 baht with 8% compounded semi-annually. How much will he get at the end of year 5?

Select one:

a. 5,445,380 baht.

b. 4,802,400 baht.

c. 5,240,520 baht.

d. 6,088,000 baht.