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5. An obligation of $10,000 is due in 3 years. Find the present value using a nominal rate of 7% compounded: (a) annually; (b) semiannually;

5. An obligation of $10,000 is due in 3 years. Find the present value using a nominal rate of 7% compounded: (a) annually; (b) semiannually; (c) continuously. [(a) \$8162.98; (b) \$8135.01; (c) \$8105.84]

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