Question $4(1$ point$)$

Instructions:

For this question, you only need to submit the answer below. The solution will

not be corrected.

Question:

The BOB $($Bank Of Bob$)$ offers you a savings account with an interest rate of $8\mathrm{.}25\%$

that is compounded $16$ times per year. If you plan to withdraw $800,000$$ in $24$ years,

then calculate the present value of your investment.

Note: Your answer must be written in decimal with EXACT $2$ decimal places of

precision.

Your Answer:

Answer