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Suppose you won $1,399 per month for the next 7 years on a game show. You decided not to wait that long to get your
Suppose you won $1,399 per month for the next 7 years on a game show. You decided not to wait that long to get your money so, you go to your bank to see whether you can cash it in right now. If your bank offers you a discount rate (discount rate is the interest rate in when used in the context of PV) of 10% APR, how much would you get from your bank? (Work out the problem on separate sheet of paper before entering the answer.) (Round the answer two decimal point).
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