50 years (n)

6% interest (r)

Desired annual contribution (a) = $800

We look to find the:

Future value of annuity (FVA)= a X (1+r)n-1/i = a X (1+0.06)⁵⁰ -1/ 0.06 = a X (1.06)⁵⁰ -1/0.06 = a X 17.42/ 0.06 = 290.33(a)

FVA= 290.33(a)= 290.33($800) = $232,264

(perpetuity):

PV= CF (cash flow)/r = $800/0.06 = $13,333.33

I NEED TO FIND THE ANNUAL ANNUITY PAYMENT AND MONTLY PAYMENT