Sandy beach purchased an investment contract on january 1, Financial Accounting

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Sandy beach purchased an investment contract on january 1

Sandy Beach purchased an investment contract on January 1, 2006. The investment will pay Sandy $5,000 at the end of every year for the years 2006 - 2012. The investment will pay Sandy $10,000 at the end of 2013 and will pay Sandy $20,000 at the end of 2014. Calculate the total present value of all payments received by Sandy from this contract assuming the interest rate is 8% compounded annually. Do not use decimals in your answer.

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Financial Accounting: Sandy beach purchased an investment contract on january 1

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