You have your choice of two investment accounts. Investment A is a 15-year annuity that features end-of-month
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You have your choice of two investment accounts. Investment A is a 15-year annuity that features end-of-month $1,050 payments and has an interest rate of 6.05 percent compounded monthly. Investment B is a continuously compounded lump-sum investment with an interest rate of 7 percent, also good for 15 years. How much money would you need to invest in B today for it to be worth as much as Investment A 15 years from now?
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Related Book For 
Corporate Finance Core Principles And Applications
ISBN: 9781260571127
6th Edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan
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