Your are the investment advisor for your aunt who would like to invest $1,250,000 with a AAA rated insurance company that will pay her a "monthly"...

Your are the investment advisor for your aunt who would like to invest $1,250,000 with a AAA rated insurance company that will pay her a "monthly" fixed-payment annuity for the next 20-years. Calculate the monthly payments that she can expect to receive if the insurance company guarantees a 6 percent annual return on her investment and her first payment begins next month.