Your Grandmother Decides That the Monthly Income in Question 58

Your grandmother decides that the monthly income in Question 58 is not enough: She would like $2000 per month from the annuity. Again assume 4% compounded monthly on a 20-year annuity. How much, rounded to the nearest $1000, should she invest up front?

A) $330,000
B) $400,100
C) $406,000
D) $511,000