how much money must be deposited now @ 6 % interest compounded semi annually to yield an annuity payment of $ 4000 at the end of each six month period for a total of five years
Present Value of annuity
= annuity( 1 -(1+i)^-n )/i
= 4000( 1 - 1.03^-10 )/.03
= $ 34,120.81