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Problem #3 please Given a nominal annual rate of interest of 6.6% compounded quarterly, find the equivalent nominal annual rate of discount compounded monthly (round

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Problem #3 please

Given a nominal annual rate of interest of 6.6% compounded quarterly, find the equivalent nominal annual rate of discount compounded monthly (round your answer to four decimal places). Deposits of $ 1000 are made at the end of each month for a period of 3 years (36 payments). At the end of the first month of the 4^th year (37^th month), the size of the payment is increased by $100 each month (so the 37^th payment would be $1100, the 38^th payment would be $1200, ... 72^nd payment would be $4600). There arc a total of 72 payments. If the account earns a nominal annual rate of interest of 4.8%, compounded monthly, what is the present value of the annuity? A perpetuity-immediate (annuity with an infinite number of payments with first payment at time the end of the first quarter) has quarterly payments $5000 with a nominal annual interest rate of 4% compounded quarterly. The payments are distributed in the following fashion. Chris and Pat alternate payments for 40 total payments (i.e. Chris gets the 1^st, 3^rd, 5^th, 7^th, ... 39^th and Pat gets the 2^nd, 4^th, 6^th, 8^th, ...40^th for 20 payments each). The remaining payments are paid into a foundation. a. Determine the present value of the perpetuity. b. Determine the present value of Pat's payments. c. Determine the percent Pat's present value is of the present value of the perpetuity

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