Think of a 20-year annuity paying $2000 per month. If prevailing market rates decline over the next

Question:

Think of a 20-year paying $2000 per month. If prevailing market rates decline over the next year, will the price to purchase a 20-year increase or decrease? Explain.
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,...