Maria P.
asked • 03/02/24How much must be invested now if the annuity earns 6.82%, compounded semiannually?
A company wants to have $30,000 at the beginning of each 6-month period for the next 4 years. If an annuity is set up for this purpose, how much must be invested now if the annuity earns 6.82%, compounded semiannually?
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1 Expert Answer
Paul M. answered • 03/02/24
Tutor
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approximately $21,442.47 must be invested now for the annuity to accumulate $30,000 at the beginning of each 6-month period for the next 4 years.
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Patrick F.
03/02/24