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A 22-year immediate annuity is payable monthly. Immediate after the 47-th payment has been made, the present value of the remaining annuity payments is calculated

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A 22-year immediate annuity is payable monthly. Immediate after the 47-th payment has been made, the present value of the remaining annuity payments is calculated to be X. N is the number of payments after which the present value of the remaining annuity payments is less than for the first time. You are given d(4) = 0.10. Find N. A 22-year immediate annuity is payable monthly. Immediate after the 47-th payment has been made, the present value of the remaining annuity payments is calculated to be X. N is the number of payments after which the present value of the remaining annuity payments is less than for the first time. You are given d(4) = 0.10. Find N

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