1.If you receive $321 at the end of each year for the first three years and $692 at the end of each year for the next three years. What is the present value? Assume interest rate is 11%.
2. Say, you deposit $2,262 in a bank for 20 years. What is the amount you will have in the bank at the end of 20 years if interest of 3 % compounded monthly for first 9 years and interest of 10 % compounded quarterly for the remaining years?
3. Kelly starting setting aside funds 9 years ago to buy some new equipment for her firm. She has saved $3,637 each quarter and earned an average rate of return of 10 percent. How much money does she currently have saved for this purpose?