Time Value of Money

You have been offered an investment that pays $500 at the end of every 6 months for the next 3 years. The nominal interest rate is 12 percent; however, interest is compounded quarterly. What is the present value of the investment? a. $2,458.66. b. $2,444.67. c. $2,451.73. d. $2,463.33. e. $2,437.56. Value of missing payments Answer: d Diff: M ................
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