A bond has a maturity value of $ 3000 and is paying discrete compound interest at an effective annual rate of 3 percent. Determine the following at a time four years before the bond reaches maturity...

A bond has a maturity value of $ 3000 and is paying discrete compound interest at an effective annual rate of 3 percent. Determine the following at a time four years before the bond reaches maturity value. 1- Discount. 2- Discrete compound rate of effective interest which will be received by a purchaser if the bond were obtained for $ 2200 3. Present worth for the case where the effective annual bond interest is 5 percent compounded continuously

Extracted text: A bond has a maturity value of $ 3000 and is paying discrete compound interest at an effective annual rate of 3 percent. Determine the following at a time four years before the bond reaches maturity value. 1- Discount. 2- Discrete compound rate of effective interest which wvill be received by a purchaser if the bond were obtained for $ 2200. 3- Present worth for the case where the effective annual bond interest is 5 percent compounded continuously