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You have your choice of two investment accounts. Investment A is a 10-year annuity that features end-of-month $3,100 payments and has an interest rate of 9 percent compounded monthly. Investment B is a 11 percent annually compounded lump-sum investment, also good for 10 years.

Required: How much money would you need to invest in B today for it to be worth as much as Investment A 10 years from now?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9975689

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