Question
Assume that the annual nominal rate is 12% and that compounding is on a quarterly basis. Find the present value of $1,500 due in three
Assume that the annual nominal rate is 12% and that compounding is on a quarterly basis. Find the present value of $1,500 due in three years. [Answer is rounded to the nearest dollar]
| A. | $986 | |
| B. | $1,052 | |
| C. | $1,287 | |
| D. | $1,320 | |
| E. | $1,477 | |
| F. | $1,596 | |
| G. | $1,640 | |
| H. | $1,737 | |
| I. | $1,823 | |
| J. | None of the above |
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Investments An Introduction
Authors: Herbert B. Mayo
13th Edition
0357127951, 978-0357127957
