A 10-year annuity has half-yearly payments of $1 000 which are made at the beginning of each half-year (thus, in each year, a payment of $1 000 is made at the beginning of that year; half-way through the year another payment of $1 000 is made). At j2 = 8% p.a. find its future value at the end of 10 years. Answer this question by, first, drawing a cash flow diagram, then writing down the equation of value, and then solving it