1. A perpetuity will make annual payments with the first payment coming 9 years from now. The first payment is for $4700, and each payment that follows is $150 dollars more than the previous one. If the effective rate of interest is 6.2%, what is the present value of the perpetuity?
Answer = $
2. Stock Index Performance On November 27, 2007, The Dow Jones Industrial Average closed at 13,138.44, which was up 305.04 that day. What was the return (in percent) of the stock market that day?