please donot use excel

Question: (6) Marilyn Ho borrowed $24,000 from Stewart Financial Enterprises. She was required to make sixteen equal payments of principal. These were to be made annually with the first payment due exactly one year after she received the $24,000. Ms. Ho also had to make annual payments of interest to the loan holder at an annual effective rate of 8.5%. Immediately after the loan is made, Brady Investment Corporation purchases the right to receive all of Ms. Ho's payments from Stewart Financial Enterprises. The price paid by Brady Investment Corporation resulted in Brady having a 7% annual yield on their sixteen-year investment. Find the price that Brady Investment Corporation paid Stewart Financial Enterprises. 5.4.6 OLB(t) = 24,000-1500't since the principal payments are constant find B(t-1) expression using above R(t) = P(t) + f(t), where I(t) = i'B(t-1) Find an expression for Rt) in terms of t. Price paid by Brady is the PV of R(t) payments calculated at i= .07which is a decreasing arithmetic annuity. Instraction