So I don't know if this is actually the finance-y to do this, but here goes... We can first find the net present value at 12/31/2016, and then make a correction afterwards. Call the annual payment N.

the first payment on 12/31/2016 is worth N in 12/31/2016 dollars

the second is worth .965*N in 12/31/2016 dollars

...

the 37th is worth .965^36*N in 12/31/2016 dollars

so the total is worth N(1+.965+.965^2+...+.965^36) = (using a

geometric sum) N(1-.965^37)/(1-.965) or roughly 20.93N.

To find the 3/15/2016 present value, you might first compute a "daily" discount rate which is equivalent to the annual discount rate, assuming daily compounding.

(1+daily_rate)^365=1.035, so the daily_rate is roughly .00943%, the amount lost due to inflation each day.

Then the 3/15/2016 present value of 20.93N in 12/31/2016 dollars (which is 291 days later) would be found from

MarchPV(1.0000943^291)=20.93N

MarchPV = 20.36N