Question $9(0\mathrm{.}5$ points$)$

Imagine your best friend has just had a first baby and asks you to become godparent. You offer to put together some money to finance the child's driver's license: either you give the new parents $$1,300$ today or $$1,600$ in $19$ years. Given the $10\mathrm{.}0\%$ interest rate on savings, what is the current worth of that future money?

Instructions: Round the result to two decimal places and do not put the $"$$$"$ symbol in the answer box. For example if you get a result of $$852\mathrm{.}6578$ then write $852\mathrm{.}66$ in the answer box below.

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