You want to invest in an annuity that will pay you $11,400 per year for the first 8 years and $1,000 per month for the last 6 years. If the annuity earns 3.25% compounded annually for the first 8 years and 5.1% compounded monthly for the remaining 6 years, what would be the amount of your initial investment? Enter the appropriate values in the blanks below, round answers to two decimal places. Initial Balance |<---- N = P/Y= PV = PMT= FV = 8 years Intermediate Balance A A/ 6 years N = P/Y= A/ A/ A FV = PV = PMT= Final Balance ->I N

You want to invest in an annuity that will pay you $11,400 per year for the first 8 years and $1,000 per month for the last 6 years. If the annuity earns 3.25% compounded annually for the first 8 years and 5.1% compounded monthly for the remaining 6 years, what would be the amount of your initial investment? Enter the appropriate values in the blanks below, round answers to two decimal places. Initial Balance |<---- N = P/Y= PV = PMT= FV = 8 years Intermediate Balance A A/ 6 years N = P/Y= A/ A/ A FV = PV = PMT= Final Balance ->I N

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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