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Your local bank pays 3% interest in odd years and -1% interest in even years. How much would you have to invest today to have

  1. Your local bank pays 3% interest in odd years and -1% interest in even years. How much would you have to invest today to have $1337 in 12 years?

  1. You want to set up an Econ 299 scholarship that pays $299 every year for 29 years. How much would you have to invest today to fund that scholarship if interest rates were 2.99%?

  1. Logan is considering buying a house for $310,000. If he buys it, his extra yearly house costs increase by an average of $6,250 a year, but he expects house prices to increase 2.5% every year. If interest rates are 4%, what is the maximum he would be willing to pay to rent a similar house?

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