Lindsay Plans to Deposit $8,000 in an Investment Paying 4

Lindsay plans to deposit $8,000 in an investment paying 4.8% interest compounded semi-annually, along with semi-annual deposits of $1,000 at the start of each period for 3 years. After the third year, Lindsay will increase her deposits to monthly payments of $250 per month at the start of each month for the next two years. Determine the future value of this investment in year 5.

A) $21,873.47
B) $23,621.40
C) $25,585.33
D) $26,108.45
E) $27,407.66