Imperial Life Inc. is quoting a rate of return of 5.2% compounded quarterly on 15-year annuities. How

Question:

Imperial Life Inc. is quoting a rate of return of 5.2% compounded quarterly on 15-year annuities. How much will you have to pay for a 15-year that pays $5000 (at the end of) every three months?
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,...