Mini Assignment #16 Present Value of an Annuit;y Attached Files: File HW Present Value of an Annuity.pdf HW Present Value of an Annuity.pdf - Alternative Formats (106.907 KB) Be sure to read the attached file. 1. John is about to have his first child. When his daughter turns 18 he would like to buy her an annuity that pays $4,000 every six months for four years. a. If the annuity he's considering pays 5% compounded semiannually, find the present value of this annuity. b. What monthly payments would he need to make into a savings plan paying 5% compounded monthly, if he saved for the full 18 years? 2. As Mary is considering retirement in 20 years, she decides she would like to buy an annuity that would pay her property taxes for 15 years after her retirement. Her property tax bill is $2,000 paid annually. If she found an account that pays 3% compounded annually, what annual payments would she need to make in order to meet her goal