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Present Value for Various Compounding Periods Find the present value of $400 due in the future under each of the following conditions. Do not round

Present Value for Various Compounding Periods

Find the present value of $400 due in the future under each of the following conditions. Do not round intermediate calculations. Round your answers to the nearest cent.

  1. 6% nominal rate, semiannual compounding, discounted back 5 years $
  2. 6% nominal rate, quarterly compounding, discounted back 5 years $
  3. 6% nominal rate, monthly compounding, discounted back 1 year $

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