Question 1193410
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I can not leave this problem and its solution without my notices.



The problem itself looks very strange to me.


(1) It systematically repeats "converted" instead of "compounded", which tells me 
that the author is unfamiliar with standard terminology - so the author is a person who accidentally got lost.


(2) From the problem, it is unclear, to which money this statement relates "If money is worth 15% converted monthly".


Honestly, my impression is that the condition of the problem is mistakenly mixed

from two different problems (so the author accidently was got lost again).



(3) In the solution, calculation for pv_c looks strange to me.


It uses the formula 


pv_c = 75000/(1+0.093083)^1*(1+0.15/12)^(-12)


It seems out of logic, since all we need to do in this part is to rewind back one year from 75,000
with the quarterly compounding effective rate r = 0.09/4,


so the formula should be


pv_c = 75000/(1+0.09/4)^4,


which will produce, definitely, another value.