You have your choice of two investment accounts. Investment A is a 14-year annuity that features end-of-month
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Question:
You have your choice of two investment accounts. Investment A is a 14-year annuity that features end-of-month $1,700 payments and has an interest rate of 91 percent compounded monthly. Investment B is an 8.6 percent continuously compounded lump-sum investment, also good for 14 years. How much money would you need to invest in B today for it to be worth as much as Investment A 14 years from now? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Amount needed
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