Please provide a step-by-step explanation and calculation, thank you thank you!

2 Mr. Davis, a high school teacher, wants to set up an IRA account into which he will deposit $2,000 per year. He plans to teach for 20 more years and then retire. If the interest on his account is 7% compounded annually, how much will be in his account when he retires (within $10)? 3. Georgia has just won the state lottery. She will receive six equal annual amounts of $12,000, beginning one year from today. Assuming an 8% interest rate compounded annually, the present value of those receipts today is