Annual returns beginning one year from now

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Reference no: EM131208039

Kelly Reading invests $6,815.79 now for a series of $1,400 annual returns beginning one year from now. Kelly will earn a return of 10% on the initial investment. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How many annual payments of $1,400 will Kelly receive? (Hint: Use Table 4.) (Round answer to 0 decimal places, e.g. 25.)

Reference no: EM131208039

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