Question: Problem 5-36 Calculating Present Value of Annuities [LO 1] Peter Lynchpin wants to sell you an investment contract that pays equal $12,500 amounts at the

Problem 5-36 Calculating Present Value of Annuities [LO 1] Peter Lynchpin wants to sell you an investment contract that pays equal $12,500 amounts at the end of each of the next 19 years. If you require an effective annual return of 8 percent on this investment, how much will you pay for the contract today? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Value today

Problem 5-36 Calculating Present Value of Annuities [LO 1 ] Peter Lynchpin wants to sell you an investment contract that pays equal $12,500 amounts at the end of each of the next 19 years. If you require an effective annual return of 8 percent on this investment, how much will you poy for the contract today? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.9., 32.16

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