Suppose that your bank pays 8% interest, compounded semiannually. Use Table 12-2 of your text to find how much should be

Question

Suppose that your bank pays 8% interest, compounded semiannually. Use Table 12-2 of your text to find how much should be deposited now to yield an annuity payment of $700 at the END of every six months, for 6 years.
$3,669.50
$6,569.55
$6,832.34
$7,394.18

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