Mr. van der Linden has just used the funds in his RRSP to purchase a 25-year annuity

Question:

Mr. van der Linden has just used the funds in his RRSP to purchase a 25-year earning 8% compounded semiannually and paying $3509 at the beginning of each month. Mr. van der Linden made his last regular semiannual contribution of $2500 to his RRSP six months before purchasing the How long did he contribute to the RRSP if it earned 8% compounded annually? 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,...