8. If $88,000 is invested in an annuity that earns 5.8% compounded quarterly, what payments will it prović at the end of each quarter for the next 5 years?

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A: Formula using here,  PV of perpetuity =Amountinterest rate =20004%=$50,000

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A: To find The amount of an ordinary annuity.

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A: See solution below. Here we used some basic formula

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