Using technology, determine the present value given that you make semi-annual payments of $2,527 at 6.1% compouded semi-annually over a 6 year period. round your answer to the nearest cent. a. $25,078.86 c. $25,146.48 b. $20,963.57 d. $21,070.31

Present Value = $21070.31

d is the correct option.

Step-by-step explanation:

The formula for present value of an ordinary annuity is given by

Given that,

P = $2,527

r = 6.1% = 0.061

n = 6 years = 6×2 = 12

On substituting these values in the above formula, we get

On simplifying, we get

Rounding to nearest cent, we get

Present Value = $21070.31

d is the correct option.

898.1666667

step-by-step explanation:

5389/6 = 898.1666667

yes

step-by-step explanation: