We can calculate it by PVOA table. PVOA means present value of an ordinary annuity. PMT = $350 PMT means recurring payment. time = 5 years and interest rate is 4% So n = 5 and i = 4% So we can calculate PVOA as
PVOA = PMT times (PVOA factor for n = 5 and i = 4%) (PVOA factor PVOA table)