i cant get these questions. how much is each payment for an investment of $32000... an interest rate of 12% per annum, compounded semi-annually, with payments every 6 months, starting in half a year. - i tried it but i cant seem to get the right answer... i think it might be the n value... i put one, but then it doesnt say how many years i used the formula and i used... PV=32,000 R=? i=0.12/2=0/06 n=1 another: A lottery to raise funds for a hospital is adverstuising a $240,000 prize. The winner will receieve $1000 every month for 20 years, starting a year from now. If the interest rate is 8.9% per annum, compounded annually, how much must be invested now to have the money to pay this prize? the answer i got was like around 1600 short of the real answer in the back of the textbook... but im not sure why. i used R=$1000 n=20x12=240 i= 0.089/12 pv=?