Question: 5. I got 56.38 is that correct? Please write the solution by hand and in detail. What is the discounted value of payments of $97.00

5. I got 56.38 is that correct? Please write the solution by hand and in detail.

What is the discounted value of payments of $97.00 made at the end of every three months for 5 years if interest is 11% compounded quarterly? The discounted value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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