# Question

Find the present value of $500 due in five years under each of the following conditions:

a. 12 percent simple rate, compounded annually

b. 12 percent simple rate, compounded semiannually

c. 12 percent simple rate, compounded quarterly

d. 12 percent simple rate, compounded monthly

a. 12 percent simple rate, compounded annually

b. 12 percent simple rate, compounded semiannually

c. 12 percent simple rate, compounded quarterly

d. 12 percent simple rate, compounded monthly

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