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Your aunt has decided that you are her favorite and has announced that she will send you $400 a month for two years while you

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Your aunt has decided that you are her favorite and has announced that she will send you $400 a month for two years while you finish your MBA program. At a 5.5 percent discount rate (APR), what are these payments worth to you today (what is the present value)? Assume the first payment is one month from today. Select one: a. $9,343 b. $9,600 c. $9.071 d. $9,253 e. $9,162

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