Question 935967
<pre>
Let w = amount withdrawn semiannually
    r = interest rate
    n = Number of intervals
    t = duration of the withdrawals
    P = Principal
</pre>
{{{PV = w(((1+r/n)^(nt)-1)/((1+r/n)^(nt)(r/n)))}}}
{{{PV = 800(((1+.049/2)^((2)(7))-1)/((1+.049/2)^((2)(7))(.049/2)))}}}
{{{PV = 800(((1.0245)^(14)-1)/((1.0245)^(14)(.0245)))}}}
{{{PV = 800((.403354780)/((1.403354780)(.0245)))}}}
{{{PV = 800(.403354780/.034382192)}}}
{{{PV = 800(11.731502750)}}}
{{{PV = 9385.20}}}
$9385.20 is the total amount of money to be withdrawn.