1. A home-mortgage company is offering you a 30-year, $200,000 loan with nominal 4% APR, compounded monthly. a. What is the effective annual interest rate? b. What are the monthly payments? Last summer, Sara owned a lemonade stand for 3 months that cost $200 to build, but brought in monthly profits of $100 increasing by $10 each month. Using a monthly interest rate of 1%, what was the initial present worth of the stand