Present Value & Multiple Cash Flows

Question

What is the present value of $4000 per year, at a discount rate of 10%, if the first payment is received 8 years from now and the last payment is received 25 years from now?

Answer 1

We Have 4000/1.1⁸+...4000/1.1²⁵=4000/1.1⁷(1/1.1+...1/1.1¹⁸)...uUse Pv Of AnnuityOf $1 ForParenthesis ParT 

Answer 2

$14,634.26