Find the present value of an annuity of $1200 payable at the end of each 6 months for 3 years when the interest is earned at 8% per year compounded semi-annually. (Take (1.04) = 1.2653).

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Mathematical economics:
Find the present value of an annuity of
$1200 payable at the end of each 6
months for 3 years when the interest is
earned at 8% per year compounded
semi-annually. (Take (1.04) = 1.2653).
Transcribed Image Text:Mathematical economics: Find the present value of an annuity of $1200 payable at the end of each 6 months for 3 years when the interest is earned at 8% per year compounded semi-annually. (Take (1.04) = 1.2653).
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