1. Donna would like to attend law school soon. After researching the cost of tuition, she determines that she will need to save $60,000 in 4 years. She decides that she will make weekly deposits into a savings account that earns 2 3/4% interests. How much money will Donna need to deposit each week?
2. A mutual fund had annual returns of +7%, +3%, -4%, and +6% in each of the last four years. What was the average rate of return over this period?
3. Zoom Technologies issued a $1,000 par value bond with a 5 1/4% coupon rate. Interest payments will be made semiannually. Suppose of these bonds sells for $915.75. What is the current yield?