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

Deferred Annuity

An insurance contract in which periodic payments begin at some future date, typically used as a retirement savings vehicle.

Ordinary Annuity

An ordinary annuity is a series of equal payments made at the end of consecutive periods over a fixed length of time.

Detail the implied values in annuity recipes, concentrating specifically on deferred annuities.
Assess the intervallic remittances for deferred annuities subsequent to a deferment period.

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Final Answer :

$1,283.29

Learning Objectives

Detail the implied values in annuity recipes, concentrating specifically on deferred annuities.
Assess the intervallic remittances for deferred annuities subsequent to a deferment period.