Nominal rate semi-annual compounding

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Reference no: EM1399471

Find the present value of $600 owing in the future under each of three conditions

a) 5% nominal rate semi-annual compounding discounted back 7 years. Round result to the nearest cent.

b) 5% nominal rate quarterly compounding, discounted back 7 years. Round results to the nearest cent.

c) 5% nominal rate monthly compounding, discounted back 7 years. Round result to nearest cent.

Reference no: EM1399471

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