__________ is the amount of a $3,000.00 annuity due at 12% compounded semiannually for 3 years.
a. $41,814.50
b. $43,068.93
c. $22,180.50
d. $334,321.00
e. none of the above
Again, the way you have it stated, would be "e"
I think what you want to say is this: "What is the FV of an annuity due if semi-annual deposits of $3,000 are made into an account that earns 12% comp. semi-annually" If that is what you mean, then the answer is "c". The exact amount is $22,181.51.
