Find the present value of the annuity. Round to the nearest cent. 
-Payments of $61 made quarterly for 5 years at 8% compounded quarterly
Definitions:
Discharged
The release or termination of an obligation, such as debt or duty, under certain conditions.
Security Agreement
A legal contract that grants a lender a security interest in an asset or property offered as collateral for a loan.
Assigned
Transferred or allocated to a party or for a specific purpose.
Repossess
The act of taking back goods or property by a seller or lender from the buyer or borrower, usually due to failure to meet the terms of the sale or loan agreement.
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