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rev | Admin | (Created page with "'''Solution: B''' The PV of the annuity following the <math>11^{\text {th }}</math> payment is: <math>10 a_{\left.9\right|_{0.06}}=68.0169</math>. The effective semi-annual rate is <math>j=\frac{i^{(2)}}{2}=1.06^{1 / 2}-1=0.02956301</math>. Next, <math display="block"> \begin{aligned} & P V=K\left[\frac{1}{0.02956301-0.005}\right]=68.0169 \\ & K=1.67 \end{aligned} </math> {{soacopyright | 2023 }}") | Nov 18'23 at 20:23 | +404 |