1. A saving account offers a nominal rate of 11.76%. If you open that account with an initial deposit of $2,954 and each month for now on you will save $465. What is the balance of the account after 9 years?
2. Find the present value of a 7-year ordinary annuity that pays an income stream of $500 per month. The annuity has an interest rate of 5% compounded monthly for the first 3 years and 7% compounded monthly for the last 4 years. Round answer to nearest dollar.
3. Amen company inc recently paid a dividend on their common stock. The amount of the dividend was 5.75. (Per share)