Recent sales of some real estate and record profits make it possible for a manufacturer to set

Question:

Recent sales of some real estate and record profits make it possible for a manufacturer to set aside $800,000 in a fund to be used for modernization and remodeling. How much can be withdrawn from this fund at the beginning of each half-year for the next 3 years if the fund earns 7.7%, compounded semiannually?
(a) Decide whether the problem relates to an ordinary or an due, and then
(b) Solve the problem.
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,...