1. A savings account advertises that "interest is compounded continuously and paid quarterly." What does this mean?
2. Give an example of a perpetuity. How does a perpetuity differ from an annuity?
3. Explain how to determine the present value of an uneven cash flow stream.
4. Evaluate the following statement: "The development of powerful, inexpensive microcomputers has made the hand calculator as obsolete as the slide rule."