You have $ 1,000 invested in an account which pays 16 percent compounded annually
You've $ 1,000 invested in an account which pays 16 p.c compounded yearly. A fee agent (known as a "finder") can find for you an equally secure deposit which can pay 16 p.c, compounded semi-annually, for two years. What's the most quantity try to be keen to pay him now as a price for finding the brand new account?A. a. $5.63B. b. $10.95C. c. $17.15D. d. $16.94E. e. $20.15