Shelly's Retirement Problem

In exchange of getting paid $30,000 for 8 years starting the beginning of year 6 (i.e., shelly will get paid $30,000 in the beginning of year 6, 7, and so on for 8 years), Shelly agrees to set aside $x for 5 years, starting now (beginning of year 1, 2, 3, 4, 5). The interest rate is 8%. What is $x?

Draw time-line of all payments she makes and receives.

Clearly write equations for each annuity to be considered.