Pet Insurance Limited has just had its Annual General Meeting. It has made several financial decisions but initially needs to firm up on the numbers. Firstly, it has decided it needs to be more socially responsible and wishes to make payments to charity. The company has 3million surplus funds and it wishes to use this to pay a constant annual amount to the staff's favourite charity, "Help Victims of Earthquakes", over the next 15 years. Charity Payment What is the formal name for the specific type of regular payment which Pet Insurance Limited proposes to pay to "Help victims of earthquakes? Calculate the annual amount which Pet Insurance Limited will pay to the "Help victims of Earthquakes". Assume the discount rate is 5%.