John wishes to set up an account for his grandfather so that he can have some extra money each month. John wants his gr

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John wishes to set up an account for his grandfather so that hecan have some extra money each month. John wants hisgrandfather to be able to withdraw $200 per month for the next 3years. How much must John invest today at 7% per yearcompounded monthly so that his grandfather can withdraw $200 permonth for the next 3 years?
a) $6,447.29
b) $6,467.29
c) $6,497.29
d) $6,477.29
e) $6,517.29
f) None of the above.