What amount should you invest now if you want to receive payments of $1,650 at the beginning of each month for eight years with the receipt of the first payment two years from now? Assume that money earns 4.23% compounded quarterly.

Calculating the present value of the annuity (PVAnnuity) This is an ordinary simple annuity so we use the formula,

pv = pmt[1- 1+i)-n] / i , i = r/m and n=mt

plz use this formula told by teacher. you can write in another way its upto u,but it will be beneficial for me if u write aac. to formula