Question
Claire wants to have an income of 45 000 a year when she retires She finds a CD that offers 5 2 APR compounded annually
Claire wants to have an income of 45 000 a year when she retires She finds a CD that offers 5 2 APR compounded annually and she also finds a period annuity that offers 5 2 APR compounded monthly for 20 years How much more money would Claire need to invest in the CD than in the annuity in order to reach her goal OA 412 675 23 OB 577 849 89 OC 306 562 27 D 937 500 00
Claire wants to have an income of 45 000 a year when she retires She finds a CD that offers 5 2 APR compounded annually and she also finds a period annuity that offers 5 2 APR compounded monthly for 20 years How much more money would Claire need to invest in the CD than in the annuity in order to reach her goal OA 412 675 23 OB 577 849 89 OC 306 562 27 D 937 500 00
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A Survey of Mathematics with Applications
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
10th edition
978-0134112107
