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t is the present value (PV) of $5,000 received 5 years from now, assuming: a) the interest rate is 4% per year compounded monthly? (1

t is the present value (PV) of $5,000 received 5 years from now, assuming:

a) the interest rate is 4% per year compounded monthly? (1 mark)

b) the interest rate is 4% per year compounded quarterly? (1 mark)

c) the interest rate is 4% per year compounded semi-annually? (1 mark)

d) the interest rate is 4% per year compounded daily? (1

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