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1. If the periodic rate is 2%, and the interest rate is compounded quarterly, what is the APR? 2. If the APR is 11% with

1. If the periodic rate is 2%, and the interest rate is compounded quarterly, what is the APR?

2. If the APR is 11% with semi-annual compounding, what it the EFF or Effective Annual Rate (EAR)?

3. A lender offers to lend you $250,000. The loan calls for annual payments $25,000 for 20 years. What interest rate is the company charging you?

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