If money can earn 6 compounded monthly, how much more money is required to fund an ordinary annuity paying $200 per month for 30 years than to fund the same monthly payment for 20 years ...

The amount required to fund each annuity is the present value of the annuity ...

If money can earn 6% compounded monthly, how much more money is required to fund an ordinary

Question:

If money can earn 6% compounded monthly, how much more money is required to fund an ordinary paying $200 per month for 30 years than to fund the same monthly payment for 20 years?
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...