Question: (Please use a math, finance equation and/ or formula. DONT USE A SHEET CHART, EXCEL, OR GRAPH) 24. Find the present value of $500 due

(Please use a math, finance equation and/ or formula. DONT USE A SHEET CHART, EXCEL, OR GRAPH)

24. Find the present value of $500 due in the future under each of these conditions: a. 12% nominal rate, semiannual compounding, discounted back 5 years

b. 12% nominal rate quarterly compounding, discounted back 5 years c. 12% nominal rate, monthly compounding, discounted back 1 year d. Why do the differences in the PVs occur?

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