Suppose you invest in an annuity that pays 5% interest, compounded semiannually. How much will you need to invest, semiannually, to reach a savings goal of $500,000 at the end of 25 years? Enter your answer rounded to the nearest dollar

Amount to be invested semi annually = Amount needed after 25 years / Future Value Annuity Factor(2.50%,50)

Amount to be invested semi annually = 300000 / 97.4843

Amount to be invested semi annually = $3077

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-2

7 - 9 = -2

reversed:

-2 + 9 = 7