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You have your choice of two investment accounts. Investment A is a 13-year annuity that features end-of-month $1,950 payments and has an interest rate of 8.4 percent compounded monthly. Investment B is a 7.9 percent continuously compounded lump sum investment, also good for 13 years.

How much money would you need to invest in B today for it to be worth as much as Investment A 13 years from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Amount needed $

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Financial Management, Finance

Category:- Financial Management
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