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Find the present value of $700 due in the future under each of the following conditions. Do not round intermediate calculations. Round your answers to

Find the present value of $700 due in the future under each of the following conditions. Do not round intermediate calculations. Round your answers to the nearest cent.

  1. 9% nominal rate, semiannual compounding, discounted back 5 years.

    $

  2. 9% nominal rate, quarterly compounding, discounted back 5 years.

    $

  3. 9% nominal rate, monthly compounding, discounted back 1 year.

    $

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