Present value for various discounting periods
Find the present value of $800 due in the future under each of these conditions:
16% nominal rate, semiannual compounding, discounted back 6 years. Round your answer to the nearest cent.
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$ 16% nominal rate, quarterly compounding, discounted back 6 years. Round your answer to the nearest cent.
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$ 16% nominal rate, monthly compounding, discounted back 1 year. Round your answer to the nearest cent.