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August 29, 2015

Homework Help: Math

Posted by Anonymous on Thursday, November 22, 2007 at 9:32pm.

please check my answer thanks :)

How much money must be deposited now at 6% interest compounded semiannually to yield an annuity payment of $4,000 at the beginning of each six-month period for a total of five years answer needs to be rounded to the nearest cent

I got $29,440.36

choices are $38,120.80 or $35,144.44
(and the one I picked)

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