ksykes1 ksykes1

14-04-2024
Mathematics

Answered

You have your choice of two investment accounts. Investment A is a 10-year annuity that features end-of-month $2,080 payments and
has an APR of 6 percent compounded monthly. Investment B is an annually compounded lump-sum investment with an APR of 7
percent, also good for 10 years. 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?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
Present value

Answer :

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