Find the present value (in dollars) of an annuity that pays $4,000 at the end of each 6-month period for 8 years if the interest rate is 4% compounded semiannually. (Round your answer to two decimal places.
Added by Carrie O.
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Since the payments are made every 6 months for 8 years, there are 8*2 = 16 periods. Show more…
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