a. Jack's manufacture company have experienced inflation for the past three years as follows: the first year's periodic inflation rate is 3%, and the second year's periodic inflation rate is 4%. The average inflation rate for a 3-year period is 6%. What is the periodic inflation rate for the third year? b. A thousand dollars is invested for 7 months at an interest rate of 1% per month. What is the nominal interest rate? What is the effective interest rate? c. If general inflation rate is 3% and Market interest rate is 4%. i) What is the inflation-free interest? ii) There is a series of five constant dollar (or real-dollar) payments, beginning with $25, 000 EOY1, and increasing at the rate of 2% per year. Use the inflation-free interest in (i) calculate the equivalent present worth of the series