Determine the periodic payment for the following deferred annuity. The annuity is an ordinary annuity following the period of deferral.

Deferred Annuity

A type of annuity contract that delays payments of income, installments, or a lump sum until the investor elects to receive them.

Ordinary Annuity

Consistent payouts distributed at the conclusion of each cycle over an established length.

Find the uncertain values in annuity models, giving attention to deferred annuities.
Determine the scheduled payments for deferred annuities subsequent to a deferral phase.

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Final Answer :

$3,972.46

Learning Objectives

Find the uncertain values in annuity models, giving attention to deferred annuities.
Determine the scheduled payments for deferred annuities subsequent to a deferral phase.