Question: Problem 9-36 Solving for an annuity (L09-4) Morgan Jennings, a geography professor, invests $100,000 in a parcel of land that is expected to increase in

Problem 9-36 Solving for an annuity (L09-4) Morgan Jennings, a geography professor, invests $100,000 in a parcel of land that is expected to increase in value by 14 percent per year for the next seven years. He will take the proceeds and provide himself with a 20-year annuity Assuming a 14 percent interest rate, how much will this annuity be? Use Appendix A and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Answer is complete but not entirely correct. Annuity value $ 37,708.76

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