Question: Vince has $ 3 5 , 0 0 0 to purchase an annuity that will provide him with payments of $ 1 , 0 0

Vince has $35,000 to purchase an annuity that will provide him with payments of $1,000 at the end of every three months. If the funds earn 8% compounded quarterly, how long will the payments continue? Can you expand the procedure to get the answer instead of the Excel? The answer is 15 years

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