Question: problems 3 3. Many academic institutions offer a sabbatical policy. Every seven years a professor is given a year free of teaching and other administrative

problems 3
problems 3 3. Many academic institutions offer a sabbatical policy. Every seven

3. Many academic institutions offer a sabbatical policy. Every seven years a professor is given a year free of teaching and other administrative responsibilities at full pay. For a professor earning $100,000 per year who works for a total of 42 years, what is the present value of the amount she will earn while on sabbatical if the interest rate is 6% (EAR)? 4. You have found three investment choices for a one-year deposit: 9% APR compounded monthlv. 10% APR compounded annually, and 8% APR compounded daily. Compute the

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