Mr. John has been offered a special set of annuities by his insurance company, whereby he will receive sh. 20,000 a year for 20 years. (a) How much would he be willing to pay for the this policy , if the discount rate is 8 percent and the annuities are paid at the end of each year (b) How much would he be willing to pay if the discount rate is 8 percent and the annuities are paid at the beginning of each year