Suppose the interest rate is 12% APR with monthly compounding.
What is the present value of an annuity that pays $200 per month
for 4 years?
Instruction: Type ONLY your numerical answer in the unit of
dollars, NO $ sign, NO comma, and round to one decimal places.
E.g., if your answer is $7,001.56, should type ONLY the number
7001.6, NEITHER 7,001.6, $7001.6,$7,001.6, NOR 7002. Otherwise,
Blackboard will treat it as a wrong answer.