If a compound interest table reveals that the present value of 1 for 9 years at a 4% rate of interest is .70259, what is the present value of $600 due in 9 years and discounted at a 4% compound annual rate of interest? If you were to solve the question accurately by using an electronic calculator with finance functions, all the following statements would be correct, EXCEPT:

$600 would be entered as the present value.

9 would be entered as the value of n.

4 would be entered as the interest rate.

$421.55 would be computed as the resulting discounted value.