1. If you are quoted a 12% APR by a car salesperson, on a loan with monthly payments: a. What is the rate per month? 12%/12 months in a year =1% each month b. What is the EAR? (1+imanthly)12=(1.01)12=1.126825, so subtract the 1,0.126825, so 12.6825% c. If you make 36 payments of $500 each, to repay your car loan, how much did you borrow? 2. If you are earning a daily interest rate of 0.000082191(0.0082191%) on your savings account, how much is that rate: a. Expressed as an APR? b. Expressed as an EAR? % c. If you put $100 into your savings account on September 30, 2022 how much will be in your account on January 1, 2023