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Find the accumulated value at the end of 18 years of an annuity with 36 payments of 200 made at the beginning of each six-month
Find the accumulated value at the end of 18 years of an annuity with 36 payments of 200 made at the beginning of each six-month period if the annual effective interest rate is 5.5%. Round your answer to 2 decimal places. (HINT: Payments are being made semiannually, so you would need to know the nominal rate of interest compounded semiannually to be able to work this problem. However, they gave you an annual effective rate. This can be converted to the appropriate rate.)
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