You Have Been Accepted to Study International Economy at the European

You have been accepted to study international economy at the European Central Bank (ECB) in Frankfurt.You will need $10,500 every 6 months (beginning today) for the next three years to cover tuition and living expenses.Mom and Dad have agreed to pay for your education,and want to make one deposit today in a bank account earning 6% interest,compounded semiannually.How much must they deposit now so that you can withdraw $10,500 at the beginning of each semester over the next 3 years?

A) $54,187
B) $55,797
C) $57,449
D) $56,639