Question: Question 4 ( 8 points ) Saved You want to invest in an annuity that will pay you $ 8 6 0 per montK for

Question 4(8 points) Saved You want to invest in an annuity

Question 4(8 points)
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You want to invest in an annuity that will pay you $860 per montK for the first 7 years and $160 per week for the last 3 years. If the Jannuity earns 7.8% compounded monthly for the first 7 years and 7.7% compounded weekly for the remaining 3 years, what would be the amount of your initial investment?
Your Answer:
that will pay you $860 per montK for the first 7 years

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