Question: Tyler and Eunice just got married. As a wedding present Eunice s father purchased an annuity that will give them payments every other year

Tyler and Eunice just got married. As a wedding present Eunice $’$ s father purchased an annuity that will give them payments every other year starting one year from today $($ at times $1, 3, 5, . . ., 19) .$ The effective annual rate is $4 % .$ The first payment is for $3000$ and increases by $100$ each payment. How much did Eunice $’$ s father pay for this annuity?

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