What's the present value of $$4,500$ discounted back $5$ years if the appropriate interest rate is $4\mathrm{.}5\%,$ compounded semiannually?

$$3,089$

$$3,251$

$$3,422$

$$3,602$

$$3,782$You agree to make $24$ deposits of $$500$ at the beginning of each month into a bank account. At the end of the $24$th month, you will have $$13,000$ in your account. If the bank compounds interest monthly, what nominal annual interest rate will you be earning?

$7\mathrm{.}62\%$

$8\mathrm{.}00\%$

$8\mathrm{.}40\%$

$8\mathrm{.}82\%$

$9\mathrm{.}26\%$