Question: Handwritten solution with explicit formulas is preferred. Answer should be: 3584 Problem 22.9 Find the accumulated value 18 years after the first payment is made

Handwritten solution with explicit formulas is preferred. Answer should be: 3584

Problem 22.9 Find the accumulated value 18 years after the first payment is made of an annuity-immediate on which there are 8 payments of $2,000 each made at two-year intervals. The nominal interest rate is 7% convertible semiannually. Round your answer to the nearest dollar

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