Hello, I need a detailed explanation

You are going to purchase an investment that will pay you $11,500 per year for 35 years. The payments will be made at the beginning of each year. If you wish to earn a rate of return of 3.2 percent compounded annually, how much should you pay for the investment? Your answer should be accurate to two decimal places. Answer: (247,723.94) Your parents have an investment account that earns 8.5 percent compounded annually. Your parents opened the account 33 years ago. Your parents have made annual contributions into the account for the past 33 years. The contributions were made at the beginning of each year. Today is there $123,000 in the account. What was the amount of your parents annual contribution to the account? Your answer should be accurate to two decimal places. Answer: (700.12)