i have three equations: 1. A young man is the beneficiary of a trust fund established for him 18 yr ago at his birth. If the original amount placed in trust was $40,000, how much will he receive if the money has earned interest at the rate of 7%/year compounded annually? Compounded quarterly? Compounded monthly? (Round your answers to the nearest cent.)

compounded annually $

compounded quarterly $

compounded monthly $

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2. Find the effective rate of interest corresponding to a nominal rate of 4%/year compounded annually, semiannually, quarterly, and monthly. (Round your answers to two decimal places.)

annually %

semiannually %

quarterly %

monthly %

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3. Maria, who is now 45 years old, is employed by a firm that guarantees her a pension of $35,000/year at age 65. What is the present value of her first year's pension if the inflation over the next 20 years is 6%/year compounded continuously? 8%/year compounded continuously? 12%/year compounded continuously?

(Round your answers to the nearest cent.)

at 6%/year $

at 8%/year $

at 12%/year $