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Please need help to answer the following question 14.Your parents plan to give you $200 a month for four years while you are in college.

Please need help to answer the following question

14.Your parents plan to give you $200 a month for four years while you are in college. At a discount rate (APR) of 4 percent, compounded monthly. What is the present value of these payments when you first start college? Assume each payment happens at the end of each month. Assume the first CF happens at time 1.

A $8,857.77

B $8,249.31

C $10,812.57

D $8,516.06

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