The answer to this solution is listed below. Can you please translate the answer to this solution using a financial calculator. Example: fv, n, i/y, pv, PMT etc.

Your grandmother has promised to give you $100 every three months for four years, with the first payment occurring three months from today. How much is this gift worth to you today at a discount rate of 3.8, compounded quarterly.

• rate(i) = 3.8/4 = 0.95% = 9.5*10^-3

Answer:

$1477.84