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Your grandmother deposited $1,000 into an account for you when you were born, and on each...

  • Your grandmother deposited $1,000 into an account for you when you were born, and on each birthday ever since. Interest rates are 4%. (8 pt.s)
    • How much will be in the account on your 21st birthday?
    • If your grandmother forgot to make a deposit when you turned 16, how much will be in the account when you turn 21?
  • If a $100 zero coupon bond is sold with a 6 month maturity and a 3.5% yield, how much would it sell for? (5 pt.s)
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