1) What is the effective annual interest rate for a 15% nominal annual loan when compounded:

daily____________

weekly________

continuously________

2) What is the effective Semi-annual interest rate for a 15% nominal annual loan compounded:

weekly____________

monthly________

continuously________

3) What is the future value 40 years from now of an investment with a 7% nominal annual rate compounded daily when deposits are made monthly for $10,000 for the first 240 months?

answer____________

4) What is the present value of a series of 48 quarterly deposits (starting at quarter 1) when the first deposit is $500 and the deposits increase by $50 each quarter starting with the second quarter? The nominal annual interest rate is 10% and is compounded weekly.

Quarterly interest rate?_________

Present value?____________