Question: Problem 2 (8 points, 10 minutes) A six-year annuity pays $1,800 every year that starts in year 5. The interest rate is 14 percent compounded

Problem 2 (8 points, 10 minutes) A six-year annuity pays $1,800

Problem 2 (8 points, 10 minutes) A six-year annuity pays $1,800 every year that starts in year 5. The interest rate is 14 percent compounded annually for the first four years and 14.48 percent compounded semi-annua hereafter. Calculate the present value of the annuity at time 0

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