Question: your objective is an annuity due paying $5,000 semi-annually for 5.5 years at 4% compounded quarterly. How far in advance of this would you need

your objective is an annuity due paying $5,000 semi-annually for 5.5 years at 4% compounded quarterly. How far in advance of this would you need to invest $20,000 at 6.82% compounded monthly. Assume 30 days in a month. Answer given= 13 yrs, 5 months and 9 days

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