Answer:
the annual payment for the second annuity is $2,130 paid at end of every year
Explanation:
We have following information for 1st annuity:
Rate: 6.5%
Payment (PMT): -$2,000, paid at beginning of every year
Tenor (Nper): 20 years
We use excel to calculate the present value of annuity = PV(rate,Nper,PMT,,1)
=PV(6.5%,20,-2000,,1) = $23,469
Then we calculate the payment for 2nd annuity = PMT(rate,Nper,PV,,0)
=PMT(6.5%,20,23469,,0) = -$2,130
