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Problem 4-17 (Present Value for Various Compounding Periods) Present Value for Various Compounding Periods Find the present value of $575 due in the future under

Problem 4-17 (Present Value for Various Compounding Periods)

Present Value for Various Compounding Periods

Find the present value of $575 due in the future under each of the following conditions. Do not round intermediate calculations. Round your answers to the nearest cent.

a. 12% nominal rate, semiannual compounding, discounted back 5 years. ______

b. 12% nominal rate, quarterly compounding, discounted back 5 years. ______

c. 12% nominal rate, monthly compounding, discounted back 1 year. _______

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