A deferred annuity with the first payment occurring four years from now has twenty semi-annual payments of $1,000 each.

A deferred annuity with the first payment occurring four years from now has twenty semi-annual payments of $1,000 each. The appropriate discount rate for calculating the present value of these cash flows is J2 = 10% p.a. Report the present value of the annuity (a) one year before the first payment and (b) today

Question:A deferred annuity with the first payment occurring four years from now has twenty semi-annual payments of $1,000 each. The appropriatediscount rate for calculating the present value of...