You are valuing an investment that will pay you $415 per month for the first 7 years, $491 per month for the next 8 years, and $463 per month the following 9 years (all payments are at the end of each month). Another similar risk investment alternative is an account with a quoted annual interest rate of 3.8% with monthly compounding of interest. What is the value in today's dollars of the set of cash flows you have been offered?

Suppose a stock is expected to pay a dividend of $3 per quarter for the first 4 years, $5 per quarter for the next 6 years, and $3 per quarter after that (all payments are at the end of each quarter). Stocks with similar betas expect a 7.0% return with quarterly compounding. What is the estimated stock price?

You are valuing an investment that will pay you $361 per month for the first 3 years, $441 per month for the next 8 years, and $402 per month the following 3 years (all payments are at the end of each month). Another similar risk investment alternative is an account with a quoted annual interest rate of 4.8% with monthly compounding of interest. What is the value in today's dollars of the set of cash flows you have been offered?