An inheritance of £400000 will provide how much at the end of each year for the next 20 years , if money is worth 7% compounded annually
for that, you need the following formula:
ANNUITY FOR A PRESENT AMOUNT WITH END OF TIME PERIOD PAYMENTS
a = (p*r)/(1-(1/(1+r)^n))
a is the annuity.
p is the present amount.
r is the interest rate per time period.
n is the number of time periods.
