1. Present value for various discounting periods
Find the present value of $700 due in the future under each of these conditions:
14% nominal rate, semiannual compounding, discounted back 9 years. Round your answer to the nearest cent.
14% nominal rate, quarterly compounding, discounted back 9 years. Round your answer to the nearest cent.
14% nominal rate, monthly compounding, discounted back 1 year. Round your answer to the nearest cent
2. Future value for various compounding periods
Find the amount to which $800 will grow under each of these conditions
16% compounded monthly for 3 years. Round your answer to the nearest cent.
16% compounded daily for 3 years. Round your answer to the nearest cent
3. Present value for various discounting periods
Find the present value of $700 due in the future under each of these conditions
a. 14% nominal rate, quarterly compounding, discounted back 9 years. Round your answer to the nearest cent.
b. 14% nominal rate, monthly compounding, discounted back 1 year. Round your answer to the nearest cent.