Salem plans to deposit $2200 every 6 months for 15 years to save for his son's higher education. The rate of return will be 4% compounded semi-annually for the first 5 years and 8% compounded semi-annually for the subsequent 10 years. Calculate the future value of this simple annuity. Question 11 options: $53 454.21 $118 293.81 $106 237.02 $24 089.39 $52 782.81