8. You are offered the opportunity to receive $1000 at the end of each of the next 15 years in exchange for a lump sum payment

today. If your discount rate is 8%, how much more would you need to deposit today if youd like to receive the $1000 payments at

the beginning of each year rather than the end?

A. $785

B. $899

C. $544

D. $876

E. $685

I want know the process that how to get this answer?