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QUESTION
Present value for various discounting periods Find the present value of $500 due in the future under each of these conditions: 5% nominal rate,...
Present value for various discounting periods
Find the present value of $500 due in the future under each of these conditions:
- 5% nominal rate, semiannual compounding, discounted back 4 years. Round your answer to the nearest cent.
- 5% nominal rate, quarterly compounding, discounted back 4 years. Round your answer to the nearest cent.
- 5% nominal rate, monthly compounding, discounted back 1 year. Round your answer to the nearest cent
