Question: Two annuities have the same present value. The first annuity is a decreasing annual annuity. The first payment is $840, due one year from today.

Two annuities have the same present value. The first annuity is

Two annuities have the same present value. The first annuity is a decreasing annual annuity. The first payment is $840, due one year from today. Subsequent annual payments decrease by $120 per year to a final payment of $120. The interest rate is 4% compounded annually. The second annuity provides payments of K per month for seven years. The first payment is due one month from today. The interest rate is 4% compounded annually. Find K

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