1. You will deposit $2,000 at the end of each of the next 3 years. If the interest rate is 10 percent, how much will you have accumulated in 10 years?
2. What is the present value of a 10-year annuity with $5,000 for its annual payment, if the discount rate is 10%? The first payment will occur 10 years from now.
3. What is the effective annual rate on a certificate of deposit that promises to pay interest at a 14 percent annual rate, compounded quarterly?