If you write a number over another number, it's called a FRACTION
We are asked to determine the present value of an annuity that is paid at the end of each period. Therefore, we need to use the formula for present value ordinary, which is:

Where:

Since the interest is compounded semi-annually this means that it is compounded 2 times a year, therefore, k = 2. Now we need to convert the interest rate into decimal form. To do that we will divide the interest rate by 100:

Now we substitute the values:

Now we solve the operations, we get:

Therefore, the present value must be $39462.50
The average number of pages she reads per hour is 19 pages per hour
<h3>How to determine the average number of pages she read per hour?</h3>
The given parameters are:
Number of pages = 76 pages
Number of hours = 4 hours
The average number of pages she reads per hour is calculated using the following formula
Average = Number of pages/Number of hours
Substitute the known values in the above equation
Average = 76 pages/4 hours
Evaluate the quotient
Average = 19 pages per hours
Hence, the average number of pages she reads per hour is 19 pages per hours
Read more about average at:
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