Solve this problem using Excel. Use the summery tables below to answer the question. Show your answers and the formulas you used.

1. Present Value of an Annuity Due: If you wish to withdraw an annuity (at the beginning of each period) totaling $1,200 per year over the next 4 years and you can invest at the 7.2% nominal interest rate, what would you need to invest today under the various compounding periods?

Inputs
Nominal Rate	7.2000%
Cashflow per year	$1,200.00
Holding Period	4 years

Q7: Present Value Annuity Due

Compounding	Rate per Period	Present Value
Annual
Semi-annual
Quarterly
Monthly