1. A survey of 521 citizens found that 375 of them favor a new bill introduced by the city. We want to find a 95% confidence interval for the true proportion of the population who favor the bill. What is the lower limit of the interval? (Round to 3 decimal digits)
2. What is the present value of $5,000 to be received in each of the following situations: a. at end of 10 years with a 5% discount rate. b. at the end of 7 years when the appropriate interest rate is 7%. c. at the end of 9 years using an interest rate of 9%.
3. Find the future value of $5,000 invested in each of the following situations: a. 5 percent for 10 years b. 7 percent for 7 years c. 9 percent for 4 years.