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HW 3B Question 2 This set of problems is designed to be calculated using the Excel or financial calculator . You can also use algebraic

HW 3B

Question 2

This set of problems is designed to be calculated using the Excel or financial calculator. You can also use algebraic formulas. Do not use financial tables to calculate these problems.

What is the present value of the following annuity?

$4,997 every half year at the beginning of the period for the next 14 years, discounted back to the present at 3.46 percent per year, compounded semiannually.

Round the answer to two decimal places.

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