Duncan retired recently and plans to utilize other savings for a few years while his RRSP continues

Question:

Duncan retired recently and plans to utilize other savings for a few years while his RRSP continues to grow on a tax-deferred basis. The RRSP is currently worth $142,470. How long will it be until the amount in the RRSP is large enough to purchase a 25-year paying $1700 at the end of each month? Assume that the RRSP and the will earn 8.75% compounded semiannually.
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,...