`1-

Liz saved $270 at the end of every month for 6 years in her bank account that earned 3.70% compounded monthly.

a. What is the accumulated value of her savings at the end of the period?

a$21,393.49

b$21,729.45

c$196,528.63

d$2,289.45

b. What is the interest earned over the period?

a$2,019.45

b$21,729.45

c$2,559.45

d$2,289.45

2-

What nominal interest rate compounded semi-annually is equivalent to 3.63% compounded quarterly?

%

3-If Lionel wants to earn interest of $3,547.75 on his $11,000.00 savings in 2 years, at what nominal interest rate compounded quarterly do you suggest he invests his money?

4-Orange Company holds a loan with an interest rate of 6.00% compounded quarterly. Calculate the effective rate of the loan.