1. Do you think that capital markets are completely efficient, efficient most of the time or completely inefficient? Support your position as if you were talking to your niece who is only 10 years old.
2. I decide to deposit $2,000 now and make five more equal deposits at the end of each year for five years. I still want $25,000 in five years and interest is still 8% compounded twice per year. How much will the five equal deposits need to be?