Part 1 of 2 Points: 0 of 1 Find the present value and the compound discount of $2704.17 due 4 years from now if money is worth 2% compounded quarterly. The present value of the money is $ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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Since the money is compounded quarterly, there are 4 compounding periods per year. Therefore, over 4 years, there will be a total of 4 * 4 = 16 compounding periods. Show more…
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