answer is $85,580.32

do not use excel, only thing u can use is financial calculator, show all work

An insurance company has an obligation to pay medical claims each year at the end of the year for 25 years. The first claim at the end of year 1 is 5000 and thereafter each year it increases by 4%. Find the present value of the obligation if the nominal interest is 6.8% per year compounded half-yearly. n= 25 x2