How much will have to be invested at the beginning of each year at 10%, compounded annually,

Question:

How much will have to be invested at the beginning of each year at 10%, compounded annually, to pay off a debt of $50,000 in 8 years?
(a) State whether the problem relates to an ordinary or an due, and then
(b) Solve the problem.
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,...