1. Find the present value of a 12-year annuity which pays $740 at the beginning of each month for the first 6 years. increasing to $950 per month thereafter. The annual effective rate of interest is 7.9%.

2. A sum of $110 is placed into a fund at the beginning of every other year for 12 years. If the fund balance at the end of 12 years is $914.1, find the rate of simple interest earned by the fund.

3. An annuity-immediate that pays $373.03 quarterly for the next 8 years costs $9000. Calculate the nominal interest rate convertible monthly earned by this investment.