An investment offers $5,005 per year for 9 years, with the first payment occurring 1 year from now. If the required return is 10 percent, what is the value of the investment? An investment offers $6,958 per year for 19 years, with the first payment occurring 10 years from now. If the required return is 14 percent, what is the value of the investment? (HINT: Remember that when you calculate the PV of the annuity, the claculator gives you the present value of the annuity 1 period before the annuity starts. So if the annuity starts in year 7, that calculator will to give you the persent value of annuity in year 6 . Now you have to bring this number to period 0 by inputting: N=6 ( 1 period before the annuity starts, in your case it would be a different number depending when your annuity starts) R=14FV=P resent value of annuity you found in step 1. And you solve for PV)