Question 8 (2 points)
Gaston has an annuity that pays $250 at the beginning of each quarter. If the economy grows at a rate of 4.97% annually, what is the value of
the annuity if he received it in a lump sum now rather than over a period of eight years? (2 points)
$1,617.76
$1,698.17
$6,471.06
$6,792.67