A company wants to have $40,000 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 6.76%, compounded semiannually?
A company wants to have $40,000 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 6.76%, compounded semiannually?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 12PROB
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