Peter lynchpin wants to sell you an investment contract, Financial Management

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Peter lynchpin wants to sell you an investment contract

Peter Lynchpin wants to sell you an investment contract that pays equal $13,300 amounts at the end of each of the next 23 years.

Required:

If you require an effective annual return of 8 percent on this investment, how much will you pay for the contract today? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Value today $

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Financial Management: Peter lynchpin wants to sell you an investment contract

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