Question: please explain by steps, dont use MS excel. thank you a. The present value as of today of an annuity that pays 600 per year

please explain by steps, dont use MS excel. thank you

a. The present value as of today of an annuity that pays 600 per year for 12 years. The first payment is received at the end of year 6 and the annual effective rate of interest is 7.2%. (5 points)

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