Five years from now, you want to throw a huge polka/tap gala. You figure it will...

 

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Five years from now, you want to throw a huge polka/tap gala. You figure it will cost you $40,000. You find that Sentinel is offering a 3.35% fixed rate annuity which is compounded monthly. What amount do you need to put away monthly in this annuity in order to have your $40,000 five years from now. Five years from now, you want to throw a huge polka/tap gala. You figure it will cost you $40,000. You find that Sentinel is offering a 3.35% fixed rate annuity which is compounded monthly. What amount do you need to put away monthly in this annuity in order to have your $40,000 five years from now.

Answer rating: 100% (QA)

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