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using financial mathematics 9. Paul makes deposits of 100 at the end of every six month period for 20 years into a fund that earns

image text in transcribedusing financial mathematics

9. Paul makes deposits of 100 at the end of every six month period for 20 years into a fund that earns an annual effective interest rate of 8% . With the a first withdrawal at the end of the 21st year, Paul makes withdrawals of 200 every 6 months. How much money is in the fund after the 10th withdrawal? (A) 11,319 (B) 11,857 (C) 12,395 (D) 12,933 (E) 13,471

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