Problem:
You have your choice of two investment accounts. Investment A is a 13-year annuity that features end-of-month $1,400 payments and has an interest rate of 7.3 percent compounded monthly. Investment B is a 6.8 percent continuously compounded lump sum investment, also good for 13 years.
Requirement:
Question: How much money would you need to invest in B today for it to be worth as much as investment A 13 years from now?
Note: Explain all steps comprehensively.