How much money must be deposited now, at 6% interest, compounded semiannually, to yield an annuity payment of?
How much money must be deposited now, at 6% interest, compounded semiannually, to yield an annuity payment of $4,000 at the end of each six- month period, for a total of five years?
let’s see
fv=0
i=3% (semiannual rate)
n=10 (six-month periods)
pmt=4000
solve for pv=$34,121
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