Business

Chris Greene

10 May, 18:07

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?

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