3.5 A financial institution is willing to lend you XXXXXXXXXXHowever, you must repay $1,080 at the end of one week. (a) What is the nominal interest rate? (b) What is the effective annual interest...

3.5 A financial institution is willing to lend you 51.000. However, you must repay $1,080 at the end of one week. (a) What is the nominal interest rate? (b) What is the effective annual interest rate? 3.13 What will be the amount accumulated by each of the given present investments? (a) $4,500 in 10 years at 9% compounded semiannually. (b) $8,500 in 15 years at 8% compounded quarterly. (c) $18,600 in seven years at 6% compounded monthly. 3.21 Georgi Rostov deposits $3,000 in a savings account that pays 6% interest com-pounded monthly. Three years later, he deposits $4,000. Two years after the $4,000 deposit. he makes another deposit in the amount of $6,000. Four years after the $6,000 deposit, half of the accumulated money is transferred to a fund that pays 8% interest compounded quarterly. How much money will be in each account six years after the transfer? 3.25 Sam Musso is planning to retire in 15 years. He can deposit money at 8% com-pounded quarterly. What deposit must he make at the end of ualt quarter until he retires so that he can make a withdrawal of $45,000 • y over five years after his retirement? Assume that his first withdrawal occurs at the end of six months after his retirement. 3.29 Maria Anguiano's current salary is $65,000 per year, and she is planning to retire 25 years from now. She anticipates that her annual salary will increase by $3,000 each year. (That is. in the first year she will earn $65.000, in the second year $68,000, in the third year $71.000, and so forth.) She plans to deposit 5% of her yearly salary into a retirement fund that earns 7% interest compounded daily What will be the amount accumulated at the time of her retirement?