$2.$Show $$me $$steps $$using $$financial $$calculator:

Finally, if the annual interest rate on the investment of $16$ percent is compounded semiannually $($that is$,$ you will receive

$t=12(=62)$ total interest payments, each calculated as $r=8$ percent percent $2$ times the principal value

in the investment, where $r$ in this case is the semiannual interest payment$)$ rather than annually, the present value of this

investment becomes: