How much will it cost to purchase a 20-year indexed annuity in which the end-of-quarter payments start

Question:

How much will it cost to purchase a 20-year indexed in which the end-of-quarter payments start at $5000 and grow by 0.5% every quarter? Assume that the money used to purchase the earns 6% compounded quarterly.
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,...