What is the present value (PV) of an investment that will pay $2,500 in five years if the opportunity cost rate is 9 percent compounded (a) annually, (b) quarterly, and (c) monthly?
(a) $1,659.50, $1,689.95, $1,706.21
(b) $2,500, $2,460.48, $2,481.48
(c) $1,359.75, $1,415.06, $1,438.24
(d) $1,100.59, $1,127.49, $1,139.22.