Please give detail steps for the solution of each question.

Question 1:

On January 1, 2016, you win $50,000,000 in the state lottery. The $50,000,000 prize will be paid in equal installments of $6,250,000 over eight years. The payments will be made on December 31 of each year, beginning on December 31, 2016. If the current interest rate is 5%, determine the present value of your winnings. Use (present value of an annuity of $1 at compound interest). Round to the nearest whole dollar.

Question 2:

Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder Co. issued $25,000,000 of five-year, 7% bonds, with interest payable semiannually, at a market (effective) interest rate of 9%. Determine the present value of the bonds payable, using the present value tables (present value of an annuity of $1 at compound interest & present value of $1 at compound interest). Round to the nearest dollar.