1. You just purchased two coins at a price of $250 each. Because one of the coins is more collectible, you believe that its value will increase at a rate of 6.4 percent per year, while you believe the second coin will only increase at 5.8 percent per year. If you are correct, how much more will the first coin be worth in 10 years?

2. What is the present value of $12,600 to be received 2 years from today if the discount rate is 6 percent?

3. When your father was born 45 years ago, his grandparents deposited $125 in an account for him. Today, that account is worth $1,500. What was the annual rate of return on this account?