Please help with the answer I think I am using the formula wrong

If you buy a car for $400 down and $400 a year for two more years, what is the present value of these payments at an interest rate of 10%? The present value of these payments is $ 694.22. (Enter your response as a real number rounded to two decimal places.) X That's incorrect. The formula for relating money t periods in the future to money today is FV PV = where PV is present value, FV is future value, and i is the interest rate. OK