Question 1194741
Total=45000(1-(1+0.10/1)^(-20))/0.10
=45000*0.8514/0.1
=$383,130 needed at the outset
In 20 years, the total payments out have been $900,000, so the interest is $900,000-$383,130 that was put in the annuity, for the interest to be $516,870.