Problem 3-7\ An investor is considering an investment that will pay

$2,150

at the end of each year for the next 10 years. He expects to earn a return of 12 percent on his investment, compounded annually.\ Required:\ a. How much should he pay today for the investment?\ b. How much should he pay if the investment returns are received at the beginning of each year?\ Note: For all requirements, do not round intermediate calculations and round your final answers to the nearest whole dollar amount.\ \\\\table[[a. Present value of ordinary annuity,],[b. Present value of annuity due,]]

An investor is considering an investment that will pay $2,150 at the end of each year for the next 10 years. He expects to earn a return of 12 percent on his investment, compounded annually. Required: a. How much should he pay today for the investment? b. How much should he pay if the investment returns are received at the beginning of each year? Note: For all requirements, do not round intermediate calculations and round your final answers to the nearest whole dollar amount. An investor is considering an investment that will pay $2,150 at the end of each year for the next 10 years. He expects to earn a return of 12 percent on his investment, compounded annually. Required: a. How much should he pay today for the investment? b. How much should he pay if the investment returns are received at the beginning of each year? Note: For all requirements, do not round intermediate calculations and round your final answers to the nearest whole dollar amount