You have your choice of two investment accounts. Investment A is a 13-year annuity that features end-of-month $1,500 payments and has an interest rate of 7.5% compounded monthly. Investment B is a 7% continuously compounded lump sum investment, also good for 13 years.

How much money would you need to invest in B today for it to be worth as much as investment A 13 years from now? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)

Amount needed