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Present value for various discounting periods
a. Find the present value of $500 due in the future under each of these conditions:
9% nominal rate, monthly compounding, discounted back 1 year. Round your answer to the nearest cent. $
Future value of an annuity
b. Find the future values of these ordinary annuities. Compounding occurs once a year. Round your answers to the nearest cent.
$700 per year for 8 years at 0%.
$
$700 per year for 8 years at 0%.
$
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