Find the NPV and PI of an annuity that pays $500 per year for eight years and

Question:

Find the NPV and PI of an that pays $500 per year for eight years and costs $2,500. Assume a of 6 percent.
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,... Discount Rate
Depending upon the context, the discount rate has two different definitions and usages. First, the discount rate refers to the interest rate charged to the commercial banks and other financial institutions for the loans they take from the Federal...