For $200,000, Jamal purchased an annuity that delivers end-of-quarter payments of $3341.74. If the undistributed funds earn

Question:

For $200,000, Jamal purchased an that delivers end-of-quarter payments of $3341.74. If the undistributed funds earn 4.5% compounded quarterly, what is the term of the 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,...