An investment promises to pay $8,000 at the end of each year for the next six years and $2,000 at the end of each year for years 7 through 13. Use Table IIand Table IV to answer the questions. Round your answers to the nearest cent.
If you require a 14 percent rate of return on an investment of this sort, what is the maximum amount you would pay for this investment?
$
Assuming that the payments are received at the beginning of each year, what is the maximum amount you would pay for this investment, given a 14 percent required rate of return?
$