Sally wants to accumulate $11,500.She makes deposits of $500 at the end of every 6 months in a fund earning interest at j₂ = 5%.It turns out that after making 18 deposits,she is still short of her goal by $306.83.What is the size of the smaller concluding deposit (drop payment)needed 6 months later in order for her to reach (or exceed)her goal of $11,500? A)$27.00 B)$185.50 C)$314.50 D)No deposit is needed 6 months later

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The Answer of Sally wants to accumulate $11,500.She makes deposits of $500 at the end of every 6 months in a fund earning interest at j₂ = 5%.It turns out that after making 18 deposits,she is still short of her goal by $306.83.What is the size of the smaller concluding deposit (drop payment)needed 6 months later in order for her to reach (or exceed)her goal of $11,500? A)$27.00 B)$185.50 C)$314.50 D)No deposit is needed 6 months later

Sally Wants to Accumulate $11,500