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please answer 1,2,&3 this is an Theory of Interest question 1. Suppose deposits of $1000 are paid into a savings account at the end of

please answer 1,2,&3 image text in transcribed this is an Theory of Interest question
1. Suppose deposits of $1000 are paid into a savings account at the end of each quarter for ten years. The savings account earns interest at a nominal rate of 4.86% compounded monthly (a) Find the effective interest rate for a quarter and use it to compute the balance of the savings account immediately after the final deposit. (b) Use formula (4.2.4) to recalculate the balance of the savings account immediately after the final deposit. Make sure that you answer agrees with that in part (a). (If not, figure out why and fix). (e) Which method did you find easier? 2. How much would we need to fund an annuity that pays out $10000 at the end of each quarter for ten years with a nominal annual interest rate of 6% converted monthly, if (a) the first payment is to be made at the end of the current quarter? (b) the first payment is to be made exactly two years from now? 3. How much would be required to fund an annuity that pays out $5000 at the end of each month for five years if the annuity earns a nominal rate of 2% converted quarterly

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