A woman would like to receive a $300,000 lump-sum distribution from her retirement account when she retires in 20 years.She begins making monthly contributions now to an annuity paying 8%,
Compounded monthly.Find the amount of that contribution.
A)$557.97
B)$534.47
C)$483.85
D)$541.82
E)$509.32

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The Answer of A woman would like to receive a $300,000 lump-sum distribution from her retirement account when she retires in 20 years.She begins making monthly contributions now to an annuity paying 8%,
Compounded monthly.Find the amount of that contribution.
A)$557.97
B)$534.47
C)$483.85
D)$541.82
E)$509.32

A Woman Would Like to Receive a $300,000 Lump-Sum Distribution