The present value of a 13 -year annuity is $9,400. The discount rate is 7%. What is the future value of this annuity at the end of year 13 ? Note: Show your answer in units of dollars, use plain numbers with at least two digits after the decimal (e.g., for $12,345.67, type 12345.67). Per our discussions in class, which of the following is LEAST LIKELY a principle of personal finance? The compounding effect of expected returns is powerful and should not be overlooked. In order to build up wealth, we must give up EVERYTHING we want but not need. Saving just a few bucks per day does have the potential to take us far. Begin financial planning as early as possible. Holding all else equal, a loan with a longer term to maturity charges an interest rate that is compared to another loan with a shorter term (e.g., 30 years vs. 15 years). typically lower not different typically higher