Question: Question 3 (1) Problem #1 You are to receive $ 500 at the end of 4 years Assuming that the interest rate is 6% per

Question 3

(1)Problem #1

You are to receive $ 500 at the end of 4 years

Assuming that the interest rate is 6% per year, compounded semi-annually.

Task: Calculate the PV of the Lump Sum

** PLEASE ELABORATE ALL STEPS**

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