Anika started a fund that would pay out $4,300.00 every month in perpetuity. The fund earns 3.27%

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Anika started a fund that would pay out $4,300.00 every month in perpetuity. The fund earns 3.27% compounded monthly.

a. How much money would be required to set up this fund?

b. How much less money is required to set up the fund than if the money was earning 3.27% compounded semi-annually?

Related Book For answer-question

Fundamentals of Physics

ISBN: 978-0471758013

8th Extended edition

Authors: Jearl Walker, Halliday Resnick

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Posted Date: Mar 16, 2022 06:42 AM

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Anika started a fund that would pay out $4,300.00 every month in perpetuity. The fund earns 3.27%

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Fundamentals of Physics

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