What is the value of a contract that will pay $500 at the end of each month

Question:

What is the value of a contract that will pay $500 at the end of each month for 2 1/2 years and $2000 at the end of each quarter for the subsequent 3 1/2 years? Use a of 6% compounded semiannually.
Discount Rate
Depending upon the context, the discount rate has two different definitions and usages. First, the discount rate refers to the interest rate charged to the commercial banks and other financial institutions for the loans they take from the Federal...