SOLUTION: Find the present value of the ordinary annuity. (Round your answer to the nearest cent.) $1100/semiannual period for 8 years at 3%/year compounded semiannually $

Question 1192972: Find the present value of the ordinary annuity. (Round your answer to the nearest cent.)
$1100/semiannual period for 8 years at 3%/year compounded semiannually
$
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
best to use a calculator unless you are forced to use formulas.
i have formulas if you need them.
just let me know.

calculator i normally use is found at https://arachnoid.com/finance/index.html

results from using this calculator are shown below.
inputs are everything except pv (present value)
first one is with payments at end of each semi-annual period.
second one is with payments are the beginning of each semi-annual period.

number of periods is 8 years * 2 semi-annual periods per year = 16 semi-annual periods.

interest rate is 3% / 2 semiannual periods per year = 1.5% per semi-annual period.

RELATED QUESTIONS
Find the present value of the ordinary annuity. Please round the answer to the nearest... (answered by randyjoseph7)

Find the amount (future value) of an ordinary annuity of $1600 per semiannual period for... (answered by mananth)

Find the amount (future value) of the ordinary annuity. (Round your answer to the nearest (answered by stanbon)

Find the amount (future value) of the ordinary annuity. (Round your answer to the nearest (answered by ikleyn)

What is the future value of an ordinary annuity with semiannual payments of $7,300 at 5%... (answered by robertb)

Find the amount (future value) of the ordinary annuity. (Round your answer to the nearest (answered by ikleyn)

Please someone help!!! Find the present value PV of the annuity necessary to fund the... (answered by rothauserc,MathTherapy)

Calculate the present value of the annuity. (Round your answer to the nearest cent.)... (answered by Theo)

Find the future value of an ordinary annuity of $1,000 paid quarterly for 5 years, if the (answered by addingup,MathTherapy)