About the two investment accounts

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Reference no: EM131182051

You have your choice of two investment accounts. Investment A is a 14-year annuity that features end-of-month $1,350 payments and has an interest rate of 7.2 percent compounded monthly. Investment B is a 6.7 percent continuously compounded lump sum investment, also good for 14 years. How much money would you need to invest in B today for it to be worth as much as Investment A 14 years from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Amount needed $

Reference no: EM131182051

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