A $255,000 amount from an RRSP is used to purchase an annuity paying $6000 at the end

Question:

A $255,000 amount from an RRSP is used to purchase an paying $6000 at the end of each quarter. The provides an annually compounded rate of return of 6%.
a. What will be the amount of the final payment?
b. What will be the interest portion of the twenty-seventh payment?
c. What will be the principal portion of the fifty-third payment?
d. How much will the principal balance be reduced by Payments 14 to 20 inclusive?
e. How much interest will be received in the sixth year?
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...