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Question 5 of 7 Angela started a fund that would pay out $3,100.00 every month in perpetuity. The fund earns 5.52% compounded monthly. Answer the
Question 5 of 7 Angela started a fund that would pay out $3,100.00 every month in perpetuity. The fund earns 5.52% compounded monthly. Answer the following questions, rounding your answers to two decimal places. a. How much money would be required to set up this fund? $ $0.00 Round to the nearest cent b. How much less money is required to set up the fund than if the money was earning 5.52% compounded semi-annually? $ $0.00 Round to the nearest cent
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