You are currently receiving a $6,500 monthly salary at the end of each month ($78,000 annually). Your employer is offering to pay your total annual salary on a weekly basis (there are 52 weeks in a year) or on a bi-weekly basis (i.e. every 2 weeks, 26 bi-weeks in a year) instead. That means you will received your $78,000 annual salary over 52 weekly payments or 26 bi-weekly payments.

 Calculate and compare the present values of the three alternatives (monthly, weekly and bi-weekly payment). 

Which one should you Accept?Explain?