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July 28, 2015

Homework Help: Math

Posted by Anonymous on Tuesday, November 27, 2007 at 9:52am.

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 tha beginning of each six-month period,for a total of five years? Round your answer to the nearest cent.

A. $38,120.80
B. $35,144.44
C. $29,440.36

My answer is D

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