A business promises to pay the investor of $3,000 today for a payment of $750 in one year's time, $1,500 in two years' time and $1,500 in three years' time. What is the present value of this business opportunity if the interest rate is 8% per year? Drew receives an inheritance that pays him $51,000 every three months for the next two years. Which of the following is closest to the present value (PV) of this inheritance if the interest rate is 8.4% (EAR)? What is the present value (PV) of an investment that pays $90,000 every year for four years if the interest rate is 6% APR, compounded quarterly? A bank pays interest monthly with an EAR of 13%. What is the periodic interest rate applicable per month