Answer:
A deferred annuity is a contract with an insurance company that promises to pay the owner a regular income, or a lump sum, at some future date.
Deferred Annuity based on an ordinary annuity, is represented as for formula;
[tex]D.Annuity = POrdinary \frac{[1 - (1 + r)^{ - n} ]}{ [(1 + r)^{t}(r)] } [/tex]
