Find the Present Value of an Annuity with Semiannual Payments $\quad P V = \$ 8,824.55$

question 66

Multiple Choice

Find the present value of an annuity with semiannual payments of $400 at 4.22%, compounded semiannually for 15 years.Round to the nearest cent.

• A) \(\quad P V = \$ 8,824.55\)
• B) \(\quad P V = \$ 12,253.20\)
• C) \(\quad P V = \$ 16,509.77\)
• D) \(\quad P V = \$ 9,707.01\)
• E) \(\quad P V = \$ 17,649.10\)

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