Question $1$

$2$ pts

An insurance broker calls you and despite your finance professor's warnings, you listen to their offer. The offered insurance product requires you to make payments every tur month of $$197$ and do so for the next $20$ years $(1^{st}$ payment is $4$ months from today$).$ The insurance product offers to meet your required return of $10\%$ per year $($i$.$e$.$ effective$),$ and pay interest every four month. What amount of money should the insurance product promise you at the end of $20$ years? $($Please make sure to use at least up to $6$ decimal points for the $\frac{1}{Y}$ input$).$