Question (11: SOA 285) An investor deposits 1000 at the beginning of each year for 20 years. The fund earns interest at an annual effective rate of 9.25%. At the end of 20 years, the investor wishes to use the fund to purchase a 30-year annuity-due with monthly payments of 500 based on an annual nominal interest rate of 10% convertible monthly. Calculate the balance, if any, in the fund after paying for the annuity. (A) The fund balance is insufficient to purchase the annuity. (B) 0 (C) 35 (D) 370 (E) 510