1A. A loan has a stated annual rate of 4.01%. If loan payments are made monthly and interest is compounded monthly, what is the effective annual rate of interest? Please answer as a percentage

(%).

1B. You invest $706.00 at the beginning of every year and your friend invests $706.00 at the end of every year. If you both earn an annual rate of return of 3.1%, how much more money will you have after 12.0 years?

1C. You currently have $3,799.00 in a retirement Savings account that earns an annual return of 8.08%. You want to retire in 43.0 years with 1,000,000. How much more de you need to Save at the end of every year to reach your retirement goal?

1D. You currently owe $4,000.00 of your credit card that charges an annual interest rate of 2.06%. You make $115.00 of new charges every month and make a payment of $177.00 every month. What will your credit card balance be in three months?

1E. You would like to retire in 17.0 years. The expected rate of inflation is 2.84% per year. You currently have a standard of living that requires $7,806.00 of monthly expenses. Assuming you want to maintain the Same standard of living in retirement, what are your monthly expenses expected to be the first year of retirement?