What is the value today of $3,500 per year, at a discount rate of 9 percent, if

Question:

What is the value today of $3,500 per year, at a discount rate of 9 percent, if the first payment is received 6 years from today and the last payment is received 20 years from today?

Discount Rate
Depending upon the context, the discount rate has two different definitions and usages. First, the discount rate refers to the interest rate charged to the commercial banks and other financial institutions for the loans they take from the Federal...