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From her 10 th birthday until her 16 th birthday, Ellen received an allowance of $400 per year payable continuously. If the force of interest,

From her 10 th birthday until her 16 th birthday, Ellen received an allowance of $400 per year payable continuously. If the force of interest, , is constant at .01, then what is the present value of Ellens allowance at the time she begins receiving it? Assume e .06 = 1.062 , e -.06 = 0.942 , e .07 = 1.072 , e -.07 = 0.932

A. $2,720

B. $2,240

C. $2,130

D. $2,320

E. $2,280

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