1.You have a savings bond that will be worth $500 when it matures 3 years from today but you need cash now. If the current going rate of interest is 3%, what can you get for your bond if you sell it today?

2.1.Darwin Davis has just established an IRA. Darwin will put $1000 into the account at the end of this year and at the end of each year for another 39 years (40 total). If the account pays 12%, how much will Darwin have at the end of the 40^th years?