Find the Present Value of an Annuity with Semiannual Payments $\quad P V = \$ 8,824.55$

Multiple Choice

Find the present value of an annuity with semiannual payments of $400 at 4.22%, compounded semiannually for 15 years.Round to the nearest cent.

A) $\quad P V = \$ 8,824.55$
B) $\quad P V = \$ 12,253.20$
C) $\quad P V = \$ 16,509.77$
D) $\quad P V = \$ 9,707.01$
E) $\quad P V = \$ 17,649.10$