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

You say your answer is D, but don't show a "D"

If you did
Present Value = 4000(1 - 1.03^(-10)/.03
= 34120.81

then you were correct.

I mean I got $29,440.36

The only choice I have are $38,120.80
35,144.44 0r $29,440.36

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

Not knowing what D is, it is difficult to assess whether you are correct or not.

Since the payments are made at the "beginning" of each 6 month period, the formula must be adjusted to
P = R + R[1 - (1+i)^n] where i = .o6/2 = .03 and n = 1 period less than 5(2) = 9.

Therefore, P = 4000 + 4000[1-(1.03)^-9]/i = $35,144.44 making B your correct choice.

To calculate the amount of money that must be deposited now, we can use the formula for the present value of an annuity. The formula is:

PV = PMT * ((1-(1+r/n)^(-nt))/(r/n))

Where PV is the present value, PMT is the annuity payment, r is the interest rate, n is the number of compounding periods per year, and t is the number of years.

In this case, the annuity payment is $4,000, the interest rate is 6% (or 0.06), the compounding is done semiannually (so n = 2), and the number of years is 5.

Plugging the values into the formula:

PV = $4,000 * ((1-(1+0.06/2)^(-2*5))/(0.06/2))

Calculating this expression will give you the present value, which represents the amount of money that must be deposited now.

Now, let's calculate the expression:

PV = $4,000 * ((1-(1+0.03)^(-10))/(0.03))

PV = $4,000 * (1-1.0349163507^(-10))/(0.03)

PV = $4,000 * (1-0.718726)= (1.28248)/(0.03)

PV = $45,324.267400532133

So, the correct answer closest to the nearest cent would be A. $38,120.80.

Therefore, the answer you provided, "D," is incorrect. The correct answer is A. $38,120.80.