Using the future value table, a student found that the future value amount of $1 for 5 years at an annual interest rate of 10% is 1.611. The student also observed that the future value of $1 for 5 years at 10% compounded semiannually is 1.629. This means that
A) the student was looking in the wrong column; the second amount should be 1.611/2.
B) the more often the compounding, the higher the future value.
C) there was an error in the table.
D) when interest is compounded semiannually, more money must be deposited to have a desired ending balance.
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