Joshua wants to structure a 20-year annuity so that its end-of-quarter payments are $2000 for the first

Question:

Joshua wants to structure a 20-year so that its end-of-quarter payments are $2000 for the first 10 years and $2500 for the next 10 years. Pacific Life Insurance Co. offers to sell this with a 4.8% compounded monthly rate of return to the annuitant. What amount must Joshua pay to Pacific for 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,...