We are setting up an annuity for retirement. We can set aside 00 at the end of each year for the next 20 years and it will earn 6% annual interest. What lump sum will we need to set aside today at 6% annual interest to have the same retirement fund available 20 years from now?
How much more will we need to invest in periodic payments than we will if we make a lump sum payment if we intend to accumulate the same retirement balances?


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