Mr. Larsens will directed that $200,000 be invested to establish a perpetuity making payments at the end

Question:

Mr. Larsen’s will directed that $200,000 be invested to establish a making payments at the end of each month to his wife for as long as she lives and subsequently to the Canadian Heart Foundation. What will the payments be if the funds can be invested to earn 5.4% compounded monthly?
Perpetuity
Perpetuity refers to payments that are made without an end or maturity date. A perpetuity is classified as an annuity, which is something that earns a dividend or receives a payment at a regularly scheduled interval, generally yearly. So, how...