Question: Problems: PLEASE SHOW YOUR WORK. 1. You lave a savings bond that will be worth $500 when it matures 3 years from today, but you

Problems: PLEASE SHOW YOUR WORK. 1. You lave a savings bond that will be worth $500 when it matures 3 years from today, but you need cash now. If the current going rate of interest is 3%, what can you get for your bond if you sell it today? [10 Points] 2. Darwin Davis has just established an IRA. Darwin will put $1000 into the account at the end of this year and at the end of each year for another 39 years (40 total). If the account pays 12%, how much will Darwin have at the end of the 40 year? [10 Points

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