P6-10 (similar to) EQuestionHelp (Annuity payments) The Aggarwal Corporation needs to save $14 million to retire a(n) $14 million mortgage that matures in 10 years. To retire this mortgage, the company plans to put a fixed amount into an account at the end of each year for 10 years. The Aggarwal Corporation expects to eam 14 percent annually on the money in this account. What equal annual contribution must the firm make to this account to accumulate the $14 million by the end of 10 years? The equal annual contribution the firm must make to this account is $ (Round to the nearest cent) (Related to Checkpoint 6.6) (Present value of annuities and complex cash flows) You are given three investment alternatives to analyze. these three investments are as follows The cash flows from Investment Alternatives End of Year 1 A B $10,000 $10,000 10,000 10,000 10,000 5 10,000 $10.000 6 10.000 50,000 7 10,000 8 10.000 a. What is the present value of investment A at an annual discount rate of 21 percent? (Round to the nearest cent) (Related to Checkpoint 6.3) (Determining the outstanding balance of a loan) Five years ago you took out a $300,000, 25-year mortgage with an annual interest rate of 7 percent and monthly payments of $2,120.34. What is the outstanding balance on your current loan if you just make the 60th payment? If you just make the 60th payment, the outstanding balance on your current loan is $(Round to the nearest cent.)