1' The town of aleberry borrows money at 0.5% per month, What are the corresponding nominal and effective annual rates? 2' Ed has started a new business and made estimations of future revenues for the next 10 years He expects that revenue will be $30,000 in year 1 and increases by $1,000 per year in the succeeding years What is the present value of the revenues at an interest rate of 4%