When solving these proportions we just remember when moving a number from one side to the other if it started in the numerator it ends up in the denominator and vice versa.
I'll do it in two steps here for teaching purposes; it's not too hard to go directly to the answer.
Answer:
The value of annuity is
Step-by-step explanation:
From the question we are told that
The periodic payment is
The interest rate is
Frequency at which it occurs in a year is n = 4 (quarterly )
The number of years is
The value of the annuity is mathematically represented as
(reference EDUCBA website)
substituting values