$4-103.$ Determine the amount of money that must be

invested now $($time $0)$ at $6\%$ nominal interest, compound$-$

ed monthly, to provide an annuity of $$10,000$ per year for

$10$ years, starting eight years from now. The interest rate

remains constant over this entire period of time. $(4\mathrm{.}9,4\mathrm{.}15)$