This question is mind bending o.O

Every month, Tristan deposits $488 into an interest-bearing account to save for a down payment on a house. The interest rate on the account is 5.27% compounding annually. What is the present value of the investment if Tristan purchases a house in 15 years?

$4,974.08

$5,236.22

$59,689.00

$62,834.61

My work:http://www.wolframalpha.com/input/?i=PVOA+%3D+488+%28%281%29%2F%280.0527%29%29-%281%29%2F%28%280.0527%29%281%2B0.0527%29%5E%281*15%29%29

Question

This question is mind bending o.O

Every month, Tristan deposits $488 into an interest-bearing account to save for a down payment on a house. The interest rate on the account is 5.27% compounding annually. What is the present value of the investment if Tristan purchases a house in 15 years?

 $4,974.08

 $5,236.22

 $59,689.00

 $62,834.61

My work:http://www.wolframalpha.com/input/?i=PVOA+%3D+488+%28%281%29%2F%280.0527%29%29-%281%29%2F%28%280.0527%29%281%2B0.0527%29%5E%281*15%29%29

anonymous · Answer

I plugged in 
P=488
I=5.27%/1=0.0527
N=1
T=15

And nothing came out matching my answer choices

♪chibiterasu · Answer

http://openstudy.com/study#/updates/518c7f1ee4b062a8d1d9d28d

anonymous · Answer

I got the answer :D!!! Its $4,974.08 !! http://www.wolframalpha.com/input/?i=488%5B%281+-+%281+%2F+%281+%2B+0.0527%29%5E15%29%29+%2F+0.0527%5D

♪chibiterasu · Answer

c: