If money can earn 7.8% compounded monthly, how much more money is required to fund an...

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If money can earn 7.8% compounded monthly, how much more money is required to fund an ordinary annuity paying $360 per month for 25 years than to fund the same monthly payment for 15 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) $ more is required If money can earn 7.8% compounded monthly, how much more money is required to fund an ordinary annuity paying $360 per month for 25 years than to fund the same monthly payment for 15 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) $ more is required

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To calculate the amount of additional money required to fund an ordinary annuity for 25 years compar... View the full answer