Math help needed to Find the present value #20

label Mathematics
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schedule 1 Day
account_balance_wallet $5

Find the present value of the ordinary annuity. Please round the answer to the nearest cent.$2,000 per semiannual period for 7 yr at 12%/year compounded semiannually
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Nov 8th, 2015

Thank you for the opportunity to help you with your question!

PV = 2000 * (1-(1+0.06) ^-14)/0.06

= 18,589.97

Please let me know if you need any clarification. I'm always happy to answer your questions.
Nov 8th, 2015

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