diane wants to set up a TDA (tax deferred annuity) that will generate sufficient interest at maturity to meet her living expenses , which they projected to be $850.00 per month (round answer to the nearest cent)
A. Find out the amount needed at maturity to generate $850.00 per month interest if she can get 6 1/2% compounded monthly?
B. Find the monthly payment she would have to put into an ordinary annuity to obtain the future value found in part (a) if her money earns 8 1/4% and the term is twenty years
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