Present Value for Various Compounding Periods Find the present value of $425 due in the future under each of the following conditions. Do not round intermediate calculations. Round your answers to the nearest cent. a. 4% nominal rate, semiannual compounding, discounted back 5 years b. 4% nominal rate, quarterly compounding, discounted back 5 years c. 4% nominal rate, monthly compounding, discounted back 1 year