need help understanding this question

[school@24]

A professional soccer player has a deferred compensation annuity that pays her $2,300 at the end of each month for 8 years. If the annual interest rate is 5% compounded monthly, find the present value of the annuity.

 

[mmm4444bot]

need help understanding this question

Hello. Please share the part(s) of the question for which you need help understanding. For example, it is the meaning of 'annuity' or 'present value', or is it something else? Does your class use a textbook? If not, do you need helping finding online lessons? Please explain what kind of help you seek. Thank you!

 

[BigBeachBanana]

A professional soccer player has a deferred compensation annuity that pays her $2,300 at the end of each month for 8 years. If the annual interest rate is 5% compounded monthly, find the present value of the annuity.

The question doesn't state how long the deferral period is.