SOLUTION: an annuity of $2000 pe half year is payable for 10 years.If interest rates were 4.5% per half year,how much would such an annuity cost?

SOLUTION: an annuity of $2000 pe half year is payable for 10 years.If interest rates were 4.5% per half year,how much would such an annuity cost?

Algebra.Com

Question 633747: an annuity of $2000 pe half year is payable for 10 years.If interest rates were 4.5% per half year,how much would such an annuity cost?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
use Excel for calculation
=PV(0.045,20,20000)
=$26,015.87
RELATED QUESTIONS
An investor deposits $1000 into a bank account that pays interest at the rate of 10% per... (answered by stanbon)

If $2000 is invested at 5% per year, how much simple interest is earned in 4 years? (answered by checkley77)

If $315 is invested at an interest rate of 3% per year and is compounded continuously,... (answered by Edwin McCravy)

1. Mike�s Sport Shop deposits $3,600 at the end of each year for 12 years at 7% annual... (answered by edward d,Hyot)

If Naomi decides that she will invest $4 comma 500 per year in a 4% annuity for the (answered by ikleyn)

The sum of money which when given on compound interest at 18%per annum would fetch Rs 960 (answered by Theo)

Help Please! Meg's pension plan is an annuity with a guaranteed return of 5% per year... (answered by ankor@dixie-net.com)

When I was considering what to do with the $10,000 proceeds from my sale of technology... (answered by solver91311)

Please help me :) 1) You invest $18000 at 6% interest per year. Set up an exponential... (answered by ankor@dixie-net.com)