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12,000.00 a year for ten years, with the interest rate 12%

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If a man won 12,000.00 a year for ten years, with the interest rate 12%, how much does the lottery have to invest today to pay this prize to the man over the next ten years?
If a man wants to save 10,000.00 by the end of 3 years, and has 2500.00 now, how much would a year end deposit to the savings be ? The interest rate is 8%?

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This solution is comprised of a detailed explanation to answer the followings:

How much does the lottery have to invest today to pay this prize to the man over the next ten years?
How much would a year end deposit to the savings be ? the interest rate is 8%?

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If a man won 12,000.00 a year for ten years, with the interest rate 12%, how much does the lottery have to invest today to pay this prize to the man over the next ten years?

PVA = W x 1 - 1 where PVA is the present value
(1 + R)N W is the amount received each quarter
...

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