I have been presented two tables; B1 is present value of 1 (p=1/(1+i)^n) and B3 which is present value of an annuity of 1 (p=[1-1/(1+i)^ ]/i). Which table do I use and how? I need it explained to me like I'm a 6 year old child.

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Garcia Company issues 6.00%, 15-year bonds with a par value of $470,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 4.00%, which implies a selling price of 122 1/3. Confirm that the bonds' selling price is approximately correct. Use present value Table B.1 and Table B.3 in Appendix B. (Round all table values to 4 decimal places, and use the rounded table values in calculations. Round your other final answers to nearest whole dollar amount.) Par Value x Price Selling Price $ 470,000 122 1/3 $ 575,045 Cash Flow Table Value Present Value $470,000 par (maturity) value $14,100 interest payment Price of Bond Difference due to rounding of table values