1. an immediate annuity has 40 initial quarterly payments of 20 followed by a perpetuity of quarterly payments pf 25 starting in the eleventh year. Find the present value at 4% convertible quarterly.

2. A fixed rate loan has level annual payments. The principal repaid in the 5th payment is 1489.40. The principal repaid in the 15th payment is 2795.81. What is the annual interest rate on the loan?

3. You deposit 5000 to an account that earn 5% compound annually for two years and 7% compounded annually in all subsequent years. What has the account grown to in 5 years?