Answer
${{\$}} 626.61$
Work Step by Step
Apply the Present Value Formulas Theorem
The present value $P$
of $A$ dollars to be received
after $t$ years,
assuming a per annum interest rate $r$
compounded $n$ times per year,
is $P=A\displaystyle \cdot\left(1+\frac{r}{n}\right)^{-nt}$
If the interest is compounded continuously, then $P=Ae^{-rt}$
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Compounding: $n=12$ times per year,
$A=800, t=3.5, nt=42, r=0.07.$
$P=800\displaystyle \cdot\left(1+\frac{0.07}{12}\right)^{-42}\approx{{\$}} 626.61$