Problem $5-51$ Comparing Cash Flow Streams $[$LO $1]$

You have your choice of two investment accounts. Investment A is a $9-$year annuity that features end$-$of$-$month $$2,800$ payments and has an APR of $7$ percent compounded monthly. Investment $B$ is an annually compounded lump$-$sum investment with an APR of $9$ percent, also good for $9$ years. How much money would you need to invest in B today for it to be worth as much as Investment A $9$ years from now?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Present value