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Derek's friend, Jack, is asking to borrow today with a promise to repay $8,418.87 in 4 years. If Derek could earn 5.55% annually on any

Derek's friend, Jack, is asking to borrow today with a promise to repay $8,418.87 in 4 years. If Derek could earn 5.55% annually on any investment he makes today, how much would he be willing to leand Jack today? (Round to nearest dollar.)

$6,782.98

$7,035.00

$6,500.00

$7,150.00

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