A woman would like to receive a $150,000 lump-sum distribution from her retirement account when she retires in 20 years.She begins making monthly contributions now to an annuity paying 7%,
Compounded monthly.Find the amount of that contribution.
A)$332.65
B)$317.80
C)$287.95
D)$310.55
E)$273.55

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The Answer of A woman would like to receive a $150,000 lump-sum distribution from her retirement account when she retires in 20 years.She begins making monthly contributions now to an annuity paying 7%,
Compounded monthly.Find the amount of that contribution.
A)$332.65
B)$317.80
C)$287.95
D)$310.55
E)$273.55

A Woman Would Like to Receive a $150,000 Lump-Sum Distribution