Final answer:
Abdu must invest $34,489.53 today to receive an annuity of $9,000 for four years semiannually at an 8% annual rate.
Step-by-step explanation:
To find the amount Abdu must invest today to receive an annuity of $9,000 for four years semiannually at an 8% annual rate, we can use the formula for the present value of an annuity:
PV = PMT x (1 - (1 + r)^(-n)) / r
Where PV is the present value, PMT is the annuity payment, r is the interest rate per period, and n is the number of periods.
Plugging the given values into the formula, we get:
PV = $9,000 x (1 - (1 + 0.08/2)^(-4x2)) / (0.08/2) = $34,489.53