An ordinary annuity consists of quarterly payments of $100 for 5 1/2 years. What is the annuitys

Question:

An ordinary consists of quarterly payments of $100 for 5 1/2 years. What is the annuity’s present value, discounting at 10% 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,...