I don't know where I've gone wrong in trying to figure out the answer for this one. I am using a financial calculator and I will let you know what my inputs are.

The question is regarding two options for receiving insurance proceeds. You can receive a lump sum of $200,000 today or receive payments of $1400 per month for 20 years. You can earn a 6% annual rate in pounded monthly. Which option do you take?

N= 240, PMT = 1400, I/YR = 6.0, PV= 200,00, CPT FV = -2.644607. This answer for the worth of option to at the end of 20 years cannot possibly be correct. Where did I go wrong?