Present value for various discounting periods
Find the present value of $700 due in the future under each of these conditions:
11% nominal rate, semiannual compounding, discounted back 5 years. Round your answer to the nearest cent.
$
11% nominal rate, quarterly compounding, discounted back 5 years. Round your answer to the nearest cent.
$
11% nominal rate, monthly compounding, discounted back 1 year. Round your answer to the nearest cent.
$