Money is worth 5% compounded semi-annually. What is the value today of a contract that will bring in a payment of $86,500 in nine years?
A) $63,276
B) $38,090
C) $55,461
D) $41,962
E) $55,759

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The Answer of Money is worth 5% compounded semi-annually. What is the value today of a contract that will bring in a payment of $86,500 in nine years?
A) $63,276
B) $38,090
C) $55,461
D) $41,962
E) $55,759

Money Is Worth 5% Compounded Semi-Annually