Question: Is this answer correct? PROBLEM 7 An investment that you are considering promises to pay $2,000 semiannually for the next two years, beginning six months

Is this answer correct?

PROBLEM 7
An investment that you are considering promises to pay $2,000 semiannually for the next two years,
beginning six months from now. You have determined that the appropriate opportunity cost (discount)
rate is 8 percent, compounded quarterly. What is the present value of this investment?
ANSWER
I 8%
N 8
PMT $ 4,000.00
PV $22,986.56

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