9. You have your choice of two investment accounts. Investment A is a 13-year annuity that features end-of-month $1,500 payments and has an interest rate
9. You have your choice of two investment accounts. Investment A is a 13-year annuity that features end-of-month $1,500 payments and has an interest rate of 7.5 percent compounded monthly. Investment B is a 7 percent compounded daily lump sum investment, also good for 13years. How much money would you need to invest in B today for it to be worth as much as investment A 13 years from now?
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Authors: Philip J. Adelman; Alan M. Marks
6th edition
9780133099096, 133140512, 133099091, 978-0133140514
