I'm not sure how to calculate the present value when the interest is compounded annually. I am using the BA 2 Plus calculator. If you can explain how to solve this problem using the calculator I would appreciate it. I'm preparing for my exam so knowing how to do it on the calculator would be helpful. Thanks!

Use this information for Problems 20-21. Drexel's tuition for 5 years runs roughly $350,000. An 8-year-old in your life is dreaming of earning her engineering degree in the shadow of Mario the Magnificent's wings. If you have an investment returning 8% per year, how much do you need to invest today so that you have the tuition money in 10 years? O $110,334.60 O $150, 109.00 O $162, 177.72 O $175,087.14 O $323, 193.58 QUESTION 21 What if that 8% per year is compounded monthly instead of annually? O $142,778.06 O $157,683.21 O $158,511.65 O $174, 158.69 O $327,499.89