Strategic Services gives RGI Consulting a $ 225,000 five-year note indicating an interest rate of 6% to cover the consulting services they arranged. As part of this agreement, Strategic Services will make annual blended payments at the end of the year.
Instructions
Calculate the annual payment amount that RGI Consulting can expect to receive.

Question

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The Answer of Strategic Services gives RGI Consulting a $ 225,000 five-year note indicating an interest rate of 6% to cover the consulting services they arranged. As part of this agreement, Strategic Services will make annual blended payments at the end of the year.
Instructions
Calculate the annual payment amount that RGI Consulting can expect to receive.

Strategic Services Gives RGI Consulting a $ 225,000 Five-Year Note