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1.Calculate the APR and Effective annual rate for a 36 month CD with a .60% interest rate. 2.Assume that you have just got your new

1.Calculate the APR and Effective annual rate for a 36 month CD with a .60% interest rate.

2.Assume that you have just got your new credit card. The APR is 21.99% compounded daily. If you spend 1,000 using this credit card. How much will you have to pay in 1 year to settle your account. How much interest rate would you have effectively paid?

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