When an annuity begins several time periods into the future, how do we calculate its present value

Question:

When an begins several time periods into the future, how do we calculate its present value today? Describe the procedure in a few words.

Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...