If $100,000 will purchase a 20-year annuity paying $830 at the end of each month, what monthly

Question:

If $100,000 will purchase a 20-year paying $830 at the end of each month, what monthly compounded nominal rate and effective rate of interest will the invested funds earn?
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,...