How much money would you need to invest

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Reference no: EM131459933

You have your choice of two investment accounts. Investment A is a 10 yaer annuity that features end-of-month $1,145 payments and has an interest rate of 7% compounded monthly. Investment B is an annually compounded lump sum investment with an interest rate of 9%, 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?

Reference no: EM131459933

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