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1. You are late paying your cable bill again. It was due 8 days ago and you have been charged $25. Your bill was $166.

1. You are late paying your cable bill again. It was due 8 days ago and you have been charged $25. Your bill was $166. What is the period rate? Convert to a percent and round to 2 decimal places.

2. You are late paying your cable bill again. It was due 11 days ago and you have been charged $20. Your bill was $138. What is the Effective Annual Rate? Convert to a percent and round to 2 decimal places.

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