1. Your parents are giving you $265 a month for 4 years while you are in college. At an interest rate of .33 percent per month, what are these payments worth to you when you first start college?

A. $11,354.32

B. $11,158.56

C. $11,745.85

D. $11,519.61

E. $13,758.26

2. Gugenheim, Inc., has a bond outstanding with a coupon rate of 6.1 percent and annual payments. The yield to maturity is 7.3 percent and the bond matures in 17 years. What is the market price if the bond has a par value of $2,000?

A. $1,805.88

B. $1,768.40

C. $1,775.53

D. $1,770.47

E. $1,773.20

3. You want to have $2.5 million when you retire in 38 years. You feel that you can save $420 per month until you retire. What APR do you have to earn in order to achieve your goal?

A. 11.66%

B. 12.00%

C. 10.50%

D. 11.20%