Your Parents Plan to Give You $200 a Month for Four

Your parents plan to give you $200 a month for four years while you are in college.At a discount rate of 6 percent,compounded monthly,what are these payments worth to you when you first start college?

A) $8,797.40
B) $8,409.56
C) $8,198.79
D) $8,516.06
E) $8,279.32