22. Problem 5.24 (Present Value for Various Discounting Periods) eBook Problem Walk-Through Find the present value of $700 due in the future under each of these conditions: a. 9% nominal rate, semiannual compounding, discounted back 7 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ b.9% nominal rate, quarterly compounding, discounted back 7 years. Do not found intermediate calculations. Round your answer to the nearest cent. $ C.9% nominal rate, monthly compounding, discounted back 1 year. Do not round intermediate calculations. Round your answer to the nearest cent. $ d. Why do the differences in the PVS occur? The present was eines per per year increase w The presente dedine u periods per vedere Save & Continue Continue without saving The present values increases periods per year increase The present values are not affected by changes in the number of periods per yem. The present values are positively related to the number of discounting penods per year