Question: 3. Joe Ferro's uncle is going to give him $250 a month for the next two years starting today. If Joe deposits every payment in

3. Joe Ferro's uncle is going to give him $250 a month for the next two years starting today. If Joe deposits every payment in an account paying a nominal annual interest rate of 6% compounded monthly, how much will he have at the end of three years?

4. Find the present value of $1,000 to be received at the end of 4 years at a nominal annual interest rate of 12%, compounded semiannually

5. Determine the value at the end of 3 years of a $10,000 investment (today) in a bank certificate of deposit (CD) that pays a nominal annual interest rate of 8 percent, compounded semiannually.

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