formula for PV for annuity due of 8000 12% per annum 240 monthly payments
PMT={PV. R.{[1 + R]^N / [1 + R]^N - 1}} / [1 + R], Where R=Interest rate per period, N=number of periods, PMT=periodic payment, PV=Present value.
PMT={8,000.0.12/12{[1 + 0.12/12]^240 / [1 + 0.12/12]^240 - 1}} / (1 + 0.12/12)
PMT=$87.21