1. Find the present value of an annuity of $6000 paid at the end of each 6-month...

Question:

1. Find the present value of an of $6000 paid at the end of each 6-month period for 8 years if the interest rate is 8%, compounded semiannually?
2. Find the present value of an that pays $3000 at the end of each 6-month period for 6 years if the interest rate is 6%, compounded semiannually?
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...