Question 1 (4 points)\ Find the present worth of these scenarios of regular payments, assuming a nominal interest rate of

8%

:\ a)

$(500)/()

month with quarterly compounding for three years\ b)

$1,(500)/()

quarter with monthly compounding for three years\ Note: there are 3 months in a quarter, and 4 quarters in a year

Question 1 (4 points) Find the present worth of these scenarios of regular payments, assuming a nominal interest rate of 8% : a) $500/ month with quarterly compounding for three years b) $1,500/ quarter with monthly compounding for three years Note: there are 3 months in a quarter, and 4 quarters in a year