26.

What is the annual periodic rate of a daily compounded loan with an effective annual rate of 12.6 percent?

Group of answer choices

11.23 percent

11.86 percent

12.04 percent

13.21 percent

13.43 percent

27.

A recent alumnus of your university gifted two million dollars to the school to fund annual scholarships for needy students. The school expects to earn an average rate of return of 5.0 percent on the gift and to use all annual earnings for scholarships. What is the annual amount available for distribution as scholarships?

Group of answer choices

$40,000,000

$100,000

$20,000,000

$10,000,000

$50,000

28.

Shady Motors will sell you a $10,000 used car for $400 a month for 60 months. What is the interest rate?

Group of answer choices

3.49 percent

6.98 percent

13.96 percent

27.91 percent

41.87 percent