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A 20-year annuity of forty $4,000 semiannual payments will begin 8 years from now, with the first payment coming 8.5 years from now. Required :

A 20-year annuity of forty $4,000 semiannual payments will begin 8 years from now, with the first payment coming 8.5 years from now.

Required :
(a) If the discount rate is 14 percent compounded monthly, what is the value of this annuity 4 years from now?

(Click to select) 4,577.82 29,838.69 34,294.86 52,068.72 29,241.91

(b) What is the current value of the annuity?
(Click to select) 17,099.47 16,757.48 2,623.38 52,068.72 18,331.89

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