A 20 year annuity has a present value of $42,419,233. If the interest rate is 15%, what

Question:

A 20 year has a present value of $42,419,233. If the interest rate is 15%, what is the annual cash flow?
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...