Q12 is the amount of a 300000 annuity due at 12 compounded

Q12. __________ 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

Solution

by the formula of compound interest

Amount = principal*[1 + (rate/100)]^time

thus, Amount = 3000*[1 + (12/200)]^2*3 = 3000*[1 + (12/200)]⁶

or, Amount = 4255.56

Hence the correct option is :-  e. none of the above