A 9-year annuity of 18 $9,400 semiannual payments will begin 11 years from now, with the first payment coming 11.5 years from now.
If the discount rate is 8 percent compounded semiannually, what is the value of this annuity nine years and seven years from now? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
Value of the annuity
Nine years $
Seven years $
What is the value of the annuity today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Value today