Please help me understand amd anwer answer it, I already provided the references, thank you 3.6 UNKNOWN PERIODIC PAYMENTSS = RSmiOften, we know the present or future value, the interest rate and the number of periods, but need to7500 = RB10.07/12determine the size of the annuity. To determine the size of an annuity is to find the periodic payment.7500R =Example 18. How much quarterly payment is necessary to pay 1,000 loan due after 5 years at 6% compounded80.07/12quarterly?7500Solution: Given: (simple ordinary annuity) S = 1,000, j = 6%, m = 4, t=5 years, n = 20R =At the date of the loan,480.071+12 -10.075= RSmi120.07121000 = Re00.0157500R =1000(1.00583333 48 1R =2ob.015(1.00583333)0.005833331000(1.01520 -1(7500)0.00583333)R-(1.00583333)48 -11.00.58 3333)0.015R.1000(0.015)(1.01520 -1R=43,25R= 135.067500 x 0.00583333 +(1.00583333 ^ 48 - 1) +1.00583333 = 135.06E 1000 x 0.015 +( 1.015 ^ 20 - 1) = 43.25Example 21. Find the quarterly payment for 21 quarters to discharge an obligation of 12,000 if money is worth 4V% compounded quarterly and the first payment is due at the end of 3 years and 9 months.Example 19. If a man lends 1,000 at 8% per annum convertible quarterly, how much can be received from theborrower at the end of every quarter to pay the loan exactly at the end of 10 years?Solution: Given: A = 12,000, j = 4%, m = 4, h = 14, n= 21Solution: Given: A = 1,000, j = 0.08, m = 5, t= 10 years, n= 40At the date of the loan,A = R(an -an)A = Ra12000 = R(ag0.01125 - arm0.01125)120001000 = Rago.02R =ag50.01125 - a0.011251000R =4010.0212000R=1-1.01125 35 1-1.01125 140.01125410000.011251-(1.02) 400.0212000R =(1.01125 14-(1.01125) 35R= 1000(0.02)1-1.02)r400.0112512000(0.01125)(1.01125)14 -(1.01125)- 35R = 36.56RR= 754,10Example 20. How much must be saved at the beginning of cach month starting now to accumulate 7,500 for 4yeurs at 7% compounded monthly?Solution: Given: (simple annuity due)S= 7,500, j= 7%, m = 12, t= 4 yeurs, n = 4E 12000 x 0.01125 +( 1.01125 - 14 - 1.01125 ^- 35 ) = 754.1OFrom the results of examples 18 to 21, formulas for R can be summarized as follows:GivenFormulaFormulaSiR:=Accumulated amount of ordinary annuity(1 + 1)" - 1SiSR =RAccumulated amount of annuity due(1 + 1)" – 1)(1 + 1)SiR:=Accumulated amount of deferred annuity(1 + 1)" – 1AiAPresent value of ordinary annuityR =1-(1+ 1) namiAiPresent value of annuity dueAR =miR =(1- (1 + 1) ")(1 +1)AiAR-R =(1 + 1))" h – (1 + 1)– (n + h)(anthi - ami )Ai(1 + ihPresent value of deferred annuityR=A1- (1 + 1) nR =ami (1+i) 09. Mrs. Aquino retires at the age of 63 and uses her life savings of 120,000 to purchase an annuity. The lifeinsurance company gives an interest rate of 6% and they estimate that her life expectancy is 15 years. Howmuch annuity due (that is how big an annual pension) will she receive?

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Description: Please help me understand amd anwer answer it, I already provided the references, thank you 3.6 UNKNOWN PERIODIC PAYMENTSS = RSmiOften, we know the present or future value, the interest rate and the number of periods, but need to7500 = RB10.07/12dete

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Please help me understand amd anwer answer it, I already provided the references, thank you 3.6 UNKNOWN PERIODIC PAYMENTSS = RSmiOften, we know the present or future value, the interest rate and the number of periods, but need to7500 = RB10.07/12determine the size of the annuity. To determine the size of an annuity is to find the periodic payment.7500R =Example 18. How much quarterly payment is necessary to pay 1,000 loan due after 5 years at 6% compounded80.07/12quarterly?7500Solution: Given: (simple ordinary annuity) S = 1,000, j = 6%, m = 4, t=5 years, n = 20R =At the date of the loan,480.071+12 -10.075= RSmi120.07121000 = Re00.0157500R =1000(1.00583333 48 1R =2ob.015(1.00583333)0.005833331000(1.01520 -1(7500)0.00583333)R-(1.00583333)48 -11.00.58 3333)0.015R.1000(0.015)(1.01520 -1R=43,25R= 135.067500 x 0.00583333 +(1.00583333 ^ 48 - 1) +1.00583333 = 135.06E 1000 x 0.015 +( 1.015 ^ 20 - 1) = 43.25Example 21. Find the quarterly payment for 21 quarters to discharge an obligation of 12,000 if money is worth 4V% compounded quarterly and the first payment is due at the end of 3 years and 9 months.Example 19. If a man lends 1,000 at 8% per annum convertible quarterly, how much can be received from theborrower at the end of every quarter to pay the loan exactly at the end of 10 years?Solution: Given: A = 12,000, j = 4%, m = 4, h = 14, n= 21Solution: Given: A = 1,000, j = 0.08, m = 5, t= 10 years, n= 40At the date of the loan,A = R(an -an)A = Ra12000 = R(ag0.01125 - arm0.01125)120001000 = Rago.02R =ag50.01125 - a0.011251000R =4010.0212000R=1-1.01125 35 1-1.01125 140.01125410000.011251-(1.02) 400.0212000R =(1.01125 14-(1.01125) 35R= 1000(0.02)1-1.02)r400.0112512000(0.01125)(1.01125)14 -(1.01125)- 35R = 36.56RR= 754,10Example 20. How much must be saved at the beginning of cach month starting now to accumulate 7,500 for 4yeurs at 7% compounded monthly?Solution: Given: (simple annuity due)S= 7,500, j= 7%, m = 12, t= 4 yeurs, n = 4E 12000 x 0.01125 +( 1.01125 - 14 - 1.01125 ^- 35 ) = 754.1OFrom the results of examples 18 to 21, formulas for R can be summarized as follows:GivenFormulaFormulaSiR:=Accumulated amount of ordinary annuity(1 + 1)&#34; - 1SiSR =RAccumulated amount of annuity due(1 + 1)&#34; – 1)(1 + 1)SiR:=Accumulated amount of deferred annuity(1 + 1)&#34; – 1AiAPresent value of ordinary annuityR =1-(1+ 1) namiAiPresent value of annuity dueAR =miR =(1- (1 + 1) &#34;)(1 +1)AiAR-R =(1 + 1))&#34; h – (1 + 1)– (n + h)(anthi - ami )Ai(1 + ihPresent value of deferred annuityR=A1- (1 + 1) nR =ami (1+i) 09. Mrs. Aquino retires at the age of 63 and uses her life savings of 120,000 to purchase an annuity. The lifeinsurance company gives an interest rate of 6% and they estimate that her life expectancy is 15 years. Howmuch annuity due (that is how big an annual pension) will she receive?

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Consider the provided question,
Given, PV (present value) = 120,000
Interest rate (i) = 6% = 0.06…

Mrs. Aquino retires at the age of 63 and uses her life savings of 120,000 to purchase an annuity. The life insurance company gives an interest rate of 6% and they estimate that her life expectancy is 15 years. How much annuity due (that is how big an annual pension) will she receive?