You have your choice of two investment accounts. Investment A is a 7-year annuity that features end-of-month $3,300 payments and has an interest rate of 7 percent compounded monthly. Investment B is an annually compounded lump sum investment with an interest rate of 9 percent, also good for 7 years. How much money would you need to invest in B today for it to be worth as much as Investment A 7 years from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.) Present value An insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for a child at the child's birth. The details of the policy are as follows: The purchaser (say, the parent) makes the following six payments to the Insurance company First birthday Second birthday Third birthday Fourth birthday Fifth birthday Sixth birthday $ 860 $ 860 $ 960 $ 960 $ 1,060 $ 1,060 After the child's sixth birthday, no more payments are made. When the child reaches age 65, he or she receives $120,000. If the relevant interest rate is 9 percent for the first six years and 5 percent for all subsequent years, what is the value of the policy at the child's 65th birthday? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.) Child's 65th birthday