Determine nominal interest is compounded semiannually

Reference no: EM13187194

what amount will be required to purchase, on an engineer's 40th birthday, annuity to provide him with 30 equal semiannual payments 0f $1000 each, the first to be received on his 50th birthday, if the nominal interest is 4% compounded semiannually? ( should I use the uniform series present worth formula for this? please provide the whole steps)

Reference no: EM13187194

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