1. Compute the future value in year 7 of a $3,400 deposit in year 1 and another $2,900 deposit at the end of year 4 using a 8 percent interest rate. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
2. Explain the role of the federal reserve and our economy.
3. Duration is defined as the weighted average time to maturity of a financial instrument. List at least four other key things you know about duration.