3. Calculate the requested value for each of the following investment scenarios. a) You invest $2000; five years later the balance is $2208. Determine the nominal interest rate if compounding occurs yearly. b) You invest $3500 at 3% compounded quarterly. Determine the balance after eight years. c) You buy a 10-year bond at discount that offers 6% interest compounded monthly. If the face value of the bond is $50,000, determine its original selling price.

3. Calculate the requested value for each of the following investment scenarios. a) You invest $2000; five years later the balance is $2208. Determine the nominal interest rate if compounding occurs yearly. b) You invest $3500 at 3% compounded quarterly. Determine the balance after eight years. c) You buy a 10 -year bond at discount that offers 6% interest compounded monthly. If the face value of the bond is $50,000, determine its original selling price