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Paige wants to have an income of $38,000 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
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Paige wants to have an income of $38,000 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 Paige need to invest in the CD than in the annuity in order
to reach her goal?

User Don Rolling
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1 Answer

6 votes

Answer: $258,874.30

Step-by-step explanation:

User Srk
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