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Question 6 (8.5 points) An investor purchased a deferred annuity contract for $30,000, a price calculated to provide a rate of return on investments of

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Question 6 (8.5 points) An investor purchased a deferred annuity contract for $30,000, a price calculated to provide a rate of return on investments of 7% compounded quarterly. The end-of- quarter payments of $1076.71, once started, continue for a term of twelve years and six months. How long is the period of deferral (in years and months)? Include a well- labelled timeline diagram

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