Question: A deferred annuity consists of an ordinary annuity paying $2500 semiannually for a 12-year term after a 6- year period of deferral. Calculate the

A deferred annuity consists of an ordinary annuity paying $2500 semiannually for

A deferred annuity consists of an ordinary annuity paying $2500 semiannually for a 12-year term after a 6- year period of deferral. Calculate the deferred annuity's present value using a discount rate of 4.5% compounded quarterly. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value 2$

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