explain with an answer.

Mr. Dubofsky just won a "Name That Tune" contest with a grand prize of $350,000. However, the contest stipulates that the winner will receive $200,000 immediately and $15,000 at the end of each of the next 10 years. Assuming that he can earn 7% on his money, how much has he actually won? You need to submit your answer and upload your calculations via Bb, if not, your mark will be zero