5.Find the present value of the annuity.Amount Per Payment: $6,225Payment at End of Each: QuarterNumber of Years: 6Interest Rate: 8%Compounded: Quarterly

To solve this we are going to use the present value of annuity formula: [tex]PV=P[ \frac{1-(1+ \frac{r}{n})^{(-kt)} }{ \frac{r}{n} }] [/tex]
where
[tex]PV[/tex] is the present value 
[tex]P[/tex] is the periodic payment
[tex]r[/tex] is the interest rate in decimal form 
[tex]n[/tex] is the number of times the interest is compounded per year 
[tex]k[/tex] is the number of payments per year 
[tex]t[/tex] is the number of years

We know for our problem that [tex]P=6225[/tex] and [tex]t=6[/tex]. To convert the interest rate to decimal form, we are going to divide it by 100%:
[tex]r= \frac{8}{100} [/tex]
[tex]r=0.08[/tex]
Since the interest is compounded quarterly, it is compounded 4 times per year, so [tex]n=4[/tex]. Similarly, since the payment is made at the end of each quarter, it is made 4 times per year; therefore, [tex]k=4[/tex]. 
Lets replace the values in our formula:
[tex]PV=P[ \frac{1-(1+ \frac{r}{n})^{(-kt)} }{ \frac{r}{n} }] [/tex]
[tex]PV=6225[ \frac{1-(1+ \frac{0.08}{4})^{(-(4)(6)} }{ \frac{0.08}{4} }] [/tex]
[tex]PV=117739.19[/tex]

We can conclude that the present value of the annuity is $117,739.19