By "Present Factor" do you mean "Present Value?" Also, if your answer is 705CHF, the interest rate of 12% is compounded semi-annually as follows:
PV =FV / [1 + R]^N
PV =1,000 / [1 + 0.12/2]^(3*2)
PV =1,000 / 1.06^6
PV =1,000 / 1.418519112256
PV =704.96
PV = ~705 Swiss Franks.
