37. Which of the following rates is the annual percentage rate (APR) of interest equivalent to? a. Effective b. Nominal c. Discounted d. Flat 38. Assume that a piece of equipment costs \\( \\$ 13,000 \\) and will save the organization \\( \\$ 3,000 \\) per year over the next five years. At the end of the five years, the equipment will be worth \\( \\$ 4,000 \\). What is the payback period? a. 2.5 years b. 3 years c. 3.8 years (d.) 4.33 years 39. What is the purpose of net present value (NPV)? a. To secure the best interest rate for a potential investment b. To secure the organization's best required rate of return (RRR) c. To compare an investment's annual percentage rate (APR) to the cost of an irivestment (d.) To determine the difference between an investment opportunity's present value of cash inflows and outflows