Harry Taylor plans to pay an ordinary annuity of $5,000 annually for ten years. The annual rate

Question:

Harry Taylor plans to pay an ordinary of $5,000 annually for ten years. The annual rate of interest is 3.8%. How much will Harry have at the end of three years? How much interest will he earn on the investment after three years?
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,...