Answer
$\$ 8132.65$
Work Step by Step
(see p. 870)
The present value $A_{p}$ of an annuity consisting of
$n$ regular equal payments of size $R$
with interest rate $i$ per time period
is given by $A_{p}=R\displaystyle \frac{1-(1+i)^{-n}}{i}$
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Given
$R =300,\ n=30$,
monthly = 12 times per year:
$i=\displaystyle \frac{0.08}{12}=$0.00666667
$A_{p}=300\displaystyle \times\frac{1-(1+\frac{0.08}{12})^{-30}}{\frac{0.08}{12}}=\$ 8132.65$
