Question: Assume that you can invest to earn a stated annual rate of return of 12 percent, but where interest is compounded semiannually. If you make 20 consecutive semiannual deposits of $500 each, with the first deposit being made today, what will your balance be at the end of Year 20? (Points : 5)
$52,821.19
$57,900.83
$58,988.19
$62,527.47
$64,131.50  Edit

Answer: FV after 10 years (Annuity due) = 500*( ( 1 + 0.12/2)^(10*2 ) - 1 )/(0.12/2) *(1 + 0.12/2)
= 19496.36

FV(20) = PV*( 1+ r/m)^r*m
= 19496.36*(1 + (0.12/2))^(20) = $62527.47 (Ans.)  Edit