Otto Co. borrows money on April 30, 2013, by promising to make four payments of $13,000 each

Question:

Otto Co. borrows money on April 30, 2013, by promising to make four payments of $13,000 each on November 1, 2013; May 1, 2014; November 1, 2014; and May 1, 2015.
1. How much money is Otto able to borrow if the interest rate is 8%, compounded semiannually?
2. How much money is Otto able to borrow if the interest rate is 12%, compounded semiannually?
3. How much money is Otto able to borrow if the interest rate is 16%, compounded semiannually?