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You have your choice of two investment accounts. Investment A is a 10-year annuity that...

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Finance

You have your choice of two investment accounts. Investment A is a 10-year annuity that features end-of-month $2,700 payments and has an interest rate of 10 percent compounded monthly. Investment B is an annually compounded lump-sum investment with an interest rate of 12 percent, also good for 10 years.

How much money would you need to invest in B today for it to be worth as much as Investment A 10 years from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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