Kyle purchases a retirement annuity that will pay him $1,500 at the end of every six months for the first ten years and $800 at the end of every month for the next seven years. The annuity earns interest at a rate of 5.9% compounded quarterly.

Kyle purchases a retirement annuity that will pay him $1,500 at the end of every six months for the first ten years and $800 at the end of every month for the next seven years. The annuity earns interest at a rate of 5.9% compounded quarterly. a. What was the purchase price of the annuity? Round to the nearest cent b. How much interest did Kyle receive from the annuity