The amount of interest on an ordinary annuity of $11,600.00 for 5 years at 8% compounded semiannually is:
a. $23,269.60
b. $116,000.00
c. $23,296.60
d. $139,269.60
Your question is stated wrongly. None of your choices come close. Check it carefully. You must have "e" as none of the above.
