What is the effective annual rate on this loan

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1. What is the future value of $1,345 in 16 years assuming an interest rate of 8.4% compounded semiannually?

2. An investment will pay you $65,000 in nine years. If the appropriate discount rate 5.5% compounded daily, whar is the present value?

3. You want to buy a new sports coupe for $73,400 and the finance office at the dealership quoted you a loan with an APR of 5.1 percent for 60 months to buy the car. What will your monthly payments be? What is the effective annual rate on this loan?

Reference no: EM131842350

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