You are going to pay $$800$ into an account at the beginning of each of $20$ years.

left to compound for an additional $20$ years until the end of year $40,$ then it will turn into a perpetuity. You will receive the first payment from the perpetuity at the end of the $41$ st year. If the account pays $14\%,$ how much will you receive from the perpetuity each year $($round your Final Answer to nearest $$1,000)?$

Answer: $($there are $3$ required steps for this calculation, use the tables below$)$

$\backslash$table$[[$Step $1,$Step $2,$Step $3,,],[$Beg$/$End$,$Beg$/$End$,,$Beg$/$End$,],[$P$/$Y$,$P$/$Y$,$P$/$Y$,,],[\frac{C}{Y},\frac{C}{Y},\frac{C}{Y},,],[N,N,N,,],[\frac{\text{I}}{Y},\frac{\text{I}}{Y},\frac{\text{I}}{Y},,],[$PV$,,PV,PV,],[$PMT$,$PMT$,$PMT$,,],[$FV$,,,,]]$