#### Answer

$\$ 13,435.19$

#### Work Step by Step

We are given:
$R=500, i= \frac{0.06}{2}=0.03, n=20$
The amount of an annuity is given by:
$A_{f}=R \frac{(1+i)^{n}-1}{i}$
$A_{f}=500\frac{(1+0.03)^{20}-1}{0.03}=$\$ 13,435.19$

Published by
Brooks Cole

ISBN 10:
1305115546

ISBN 13:
978-1-30511-554-5

$\$ 13,435.19$

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