1.. A deposit of $ 12000 earns interest at 7.5 % p.a. compounded quarterly . After two - and - a - half years , the interest rate is changed to 3 % compounded monthly . How much is the account worth after 6 years ?

2. A company issues 3000 bond certificates with a face value of $ 1000 each that mature in 10 years . Interest on the bonds is 6.5 % payable annually . What is the issue price of the bonds if the bonds are sold to yield 5.5 % compounded quarterly ?