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Suppose an annuity pays 6% annual interest, compounded semi-annually. You invest in this annuity by contributing $4,500 semiannually for 6 years. What will the annuity be worth after 6 years?
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10 votes
10 votes
Suppose an annuity pays 6% annual interest, compounded semi-annually. You invest in this annuity by contributing $4,500 semiannually for 6 years. What will the annuity be worth after 6 years?

User Jack Clark
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2 Answers

25 votes
25 votes

Answer:

$3240

Explanation:

hope it is well understood

Suppose an annuity pays 6% annual interest, compounded semi-annually. You invest in-example-1
User Krupa Patel
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2.5k points
15 votes
15 votes

Answer: 59300

Explanation:

User Mariomulansky
by
2.8k points
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