1. Find the EAR in each of the following cases. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. Use 365 days in a year.)

Stated Rate (APR)				Number of Times Compounded	Effective Rate (EAR)
	12.50	%		Quarterly	%
	13.50			Monthly	%
	18.50			Daily	%
	14.50			Semiannually	%

2. Find the APR, or stated rate, in each of the following cases. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. Use 365 days in a year.)

Stated Rate (APR)	Number of Times Compounded	Effective Rate (EAR)
%	Semiannually		12.25	%
%	Monthly		8.25
%	Weekly		12.75
%	Daily		10.75

3. In 2015, a baseball player signed a contract reported to be worth $69.5 million. The contract was to be paid as $9.7 million in 2015, $10.9 million in 2016, $12.1 million in 2017, $12.2 million in 2018, $12.2 million in 2019, and $12.4 million in 2020. If the appropriate interest rate is 13 percent, what kind of deal did the player snag? Assume all payments are paid at the end of the year. (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Present value $