Question: Find the present value of $500 due in the future under each of the following conditions: a. 12 percent nominal rate, semiannual compounding, discounted back

Find the present value of $500 due in the future under each of the following conditions:

a. 12 percent nominal rate, semiannual compounding, discounted back 5 years.

b. 12 percent nominal rate, quarterly compounding, discounted back 5 years.

c. 12 percent nominal rate, monthly compounding, discounted back 1 year.

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