Calculate the apr and effective annual rate

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Reference no: EM132022545

1. Calculate the APR and Effective annual rate for a 36 month CD with a .60% interest rate.

2. Assume that you have just got your new credit card. The APR is 21.99% compounded daily. If you spend 1,000 using this credit card. How much will you have to pay in 1 year to settle your account. How much interest rate would you have effectively paid?

3. If Emma purchased a 5 year annuity and she pays $5000 in year 1, $300 in year 2, $2000 in year 3, $1500 in year 4, and $1000 in year 5, at a 5% rate, what is the worth of the investment today?

Reference no: EM132022545

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