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You are wishing to accumulate $16,000 for an expedition in 5 years' time. To do this, you will make 10 equal deposits (half yearly) with

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You are wishing to accumulate $16,000 for an expedition in 5 years' time. To do this, you will make 10 equal deposits (half yearly) with the first deposit today. If you earn 6.9% per annum compounding twice yearly, what deposit will be needed? (round to nearest cent; don't use $ sign or commas) Select one: a. $676.73 b. $1321.43 c. $1367.02 d. $2607.87

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