3. Consider an ordinary annuity with deposits made monthly beginning in June 2009 and continuing for 4 years.Below is the future value of the annuity (at some point during the term of the annuity).

250(1.0075)⁵ + 250(1.0075)⁴ + 250(1.0075)³ + 250(1.0075)² + 250(1.0075) + 250

3a. For this account, what are the regular deposit amount, the periodic interest rate, the nominal rate, and the number of deposits made so far?

3b. What is the full range of calendar dates that the expression above represents the future value of the account? [Hint: This range does not include June 30, 2009. On that day, the value of the account would have been just $250.]

4. Pauline graduated and got a great job.She started saving regularly the first week of her new job and was able to deposit $50 each week into an account earning 5.2% interest compounded weekly.She did this for a full year before getting a raise and increasing her deposits.Below is the future value of the annuity (at some point during the year).

50 + 50(1.001) + 50(1.001)² + ... + 50(1.001)⁹ + 50(1.001)¹⁰

When was the deposit corresponding to the term 50(1.001)² made?Do not give the calendar date.Rather give the number of the week of the deposit (as in week 1, week 2, and so on). Was the deposit made at the beginning or the end of that week?