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Find the present value of $400 due in the future under each of these conditions: a. 6% nominal rate, semiannual compounding, discounted back 7 years.

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Find the present value of $400 due in the future under each of these conditions: a. 6% nominal rate, semiannual compounding, discounted back 7 years. Do not round intermediate calculations. Round your answer to the nearest cent. b. 6% nominal rate, quarterly compounding, discounted back 7 years. Do not round intermediate calculations. Round your answer to the nearest cent. c. 6% nominal rate, monthly compounding, discounted back 1 year. Do not round intermediate calculations. Round your answer to the nearest cent. $ d. Why do the differences in the PVs occur? -Select

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