1. Payments of $4,275 are made into an account (at the end of each period) for three periods. If the account earns 21% per period, how much is in the account after the final payment?
2. You are renting an apartment with a market price $110000, and the current market interest rate per month is 0.8%. What would be a "fair" non-profit monthly rent in dollars for such apartment (provided that you live forever and make your rent payments on time each month)? Additionally, name three main reasons why your landlord would probably ask you for a much higher rent.