Find the present value of an annuity of $5000 paid at the end of each 6-month period for 6 years if the interest rate is 7%, compounded semiannually. (round your answer to the nearest cent.)

The answer is $48317.14.

Step-by-step explanation:

Payment or pmt = 5000

rate = 7% compounded semiannually

n =

We have to find p

The formula is :

r =

Substituting the values we get;

=>

=>

=>

= $48317.14

The answer is $48317.14.

37/3

step-by-step explanation:

step 1: simplify both sides of the equation.

7x+8(x+

1

4

)=3(6x−9)−8

7x+(8)(x)+(8)(

1

4

)=(3)(6x)+(3)(−9)+−8(distribute)

7x+8x+2=18x+−27+−8

(7x+8x)+(2)=(18x)+(−27+−8)(combine like terms)

15x+2=18x+−35

15x+2=18x−35

tep 2: subtract 18x from both sides.

15x+2−18x=18x−35−18x

−3x+2=−35

step 3: subtract 2 from both sides.

−3x+2−2=−35−2

−3x=−37

step 4: divide both sides by -3.

−3x

−3

=

−37

−3

x=

37

3