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
Answer:
101in
Step-by-step explanation:
9*5=45
9*4=36
5*4=20
45+36+20=101
The first five years you will have 9,720 the account earning at 8% will give you 12 dollars for every 150 a month. After five years the 9,720 without no additional deposits at the 8% monthly rate will give you 777.6 monthly at the end of the next twenty one years you will have a total of 2,645,395.2 dollars. your welcome!
Slope
= 30-2/8-1
= 28/7
= 4
Equation:
y - 2/x - 1 = 4
y - 2 = 4(x-1)
y - 2 = 4x - 4
y = 4x - 4 + 2
y = 4x - 2