Homework #3B (FV and PV of annuity non-annually)

Homework #3B (FV and PV of annuity non-annually) 

Finance 330

Question 2 (1 point)

 

What is the present value of the following annuity?$2,675 every half year at the beginning of the period for the next 9 years, discounted back to the present at 10.54 percent per year, compounded semiannually.

Round the answer to two decimal places.

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