finance

River Babylon, an archaeology professor, invests $65,000 in a parcel of land that is expected to increase in value by 8 percent per year for the next five years. He will take the proceeds and provide himself with a 12 -year annulty. Assuming a 9 percent interest rate, how much the payments will be for the annuity? Use Appendix A Appendix D. (Round "PV Factor" to 3 decimal places. Round the final answer to nearest dollar amount.) Annuity value