You want to build an annuity which can pay you $3500 per month for 25...
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You want to build an annuity which can pay you $3500 per month for 25 years (= 300 months) when the monthly interest rate is 2007. You want the annuity to begin paying you after you have done 15 years ( 180 months). You will save at a monthly rate of r = .006. What must your monthly savings amount be, to enable you to carry out your plan? a. $1265.36 b. $1358.99 c. $1487.23 d. None of these
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