Suppose payments will be made for years at the end of each semiannual period into an ordinary annuity earning interest at the rate of 8.5%/year compounded semiannually. If the present value of the annuity is $55,000, what should be the size of each payment? Round your answer to the nearest cent.
R = $__________

Question

Suppose payments will be made for  years at the end of each semiannual period into an ordinary annuity earning interest at the rate of 8.5%/year compounded semiannually. If the present value of the annuity is $55,000, what should be the size of each payment? Round your answer to the nearest cent.
R = $__________

Quizplus · Accepted Answer

The Answer of Suppose payments will be made for  years at the end of each semiannual period into an ordinary annuity earning interest at the rate of 8.5%/year compounded semiannually. If the present value of the annuity is $55,000, what should be the size of each payment? Round your answer to the nearest cent.
R = $__________

Suppose Payments Will Be Made for Years at the End