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1.) A new sports coupe costs $41,750 and the finance office has quoted you an APR of 9.5 compounded monthly, for 36 months. What is

1.) A new sports coupe costs $41,750 and the finance office has quoted you an APR of 9.5 compounded monthly, for 36 months. What is the EAR?

2.) What is the future value of $8600 a year for 32 years at 8.1 percent interest, compounded annually?

3.) You just won the grand prize in a national writing contest! As your prize, you will receive $550 a month for 48 months. If you can earn 4.9 percent on your money, what is this prize worth to you today?

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