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Josh wants to know how much he needs to have in his RRSP so that he can buy an ordinary annuity that will pay $2,000

Josh wants to know how much he needs to have in his RRSP so that he can buy an ordinary annuity that will pay $2,000 every 3 months For each combination of term and quarterly compounded interest rate in the table, calculate the initial amount required to purchase the annuity. For full marks your answer(s) should be rounded to the nearest cent. Term of the Annuity 15 years 15 years Interest Rate Initial Amount Needed 0.00 0.00 8% 11%

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