Jim Moore opens a new savings account. He deposits $12,000 at 12% compounded semiannually. At the start of the fourth year, Jim deposits an additional $50,000 that is also compounded semiannually at 12%. At the end of six years, the balance in Jim Moore's account is (use the tables in the handbook):
A)$66,081.20
B)$50,000.00
C)$16,081.20
D)$88,555.42
E)None of these

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The Answer of Jim Moore opens a new savings account. He deposits $12,000 at 12% compounded semiannually. At the start of the fourth year, Jim deposits an additional $50,000 that is also compounded semiannually at 12%. At the end of six years, the balance in Jim Moore's account is (use the tables in the handbook):
A)$66,081.20
B)$50,000.00
C)$16,081.20
D)$88,555.42
E)None of these

Jim Moore Opens a New Savings Account