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The first option is the amount of $4100 in 5 years. The second option is to receive the amount of $1200 immediately followed by some
The first option is the amount of $4100 in 5 years. The second option is to receive the amount of $1200 immediately followed by some unknown annuity that is paid at the end of each year for 5 years with the first annuity payment received at the end of year 1. Using an interest rate of 6.50%, determine the unknown annuity amount for the second option that would make the present value of both options equivalent. $ DO NOT USE A DOLLAR SIGN OR A COMMA IN YOUR ANSWER. Work your analysis out using at least four decimal points of accuracy
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