What is the present value (rounded to the nearest dollar) of an annuity of $25,000 per year

Question:

What is the present value (rounded to the nearest dollar) of an annuity of $25,000 per year for five years if the interest rate is:

1. 8% compounded annually

2. 10% compounded annually

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,...