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A 5 - year annuity pays 2 5 at the end of each quarter during the 1 st year, 2 0 at the end of

A 5-year annuity pays 25 at the end of each quarter during the 1 st year, 20 at the end of each quarter during the 2nd year, 15 at the end of each quarter during the 3rd year, 10 at the end of each quarter during the 4th year, and finally 5 at the end of each quarter during the 5 th year.
The nominal annual interest rate compounded quarterly is 8%.
Calculate the present value of the annuity-immediate.
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