6 1 point A company buys a CNC machine and will spend $5000 on supplies and maintenance by the end of the first year. It expects its expenditure on supplies and maintenance to escalate by $1000 for each year. The expected life of the machine is 10 years. How much money should the company set aside today for supplies and maintenance for the machine in an account that accrues 6% per year? Type your answer... 7 1 point A credit card offers 18% annual interest rate, compounded daily. What's the effective annual interest rate? Assume a 365 day year. Type your answer... 8 1 point A credit card offers 18% annual interest rate, compounded daily. What's the effective monthly interest rate? Assume a 365 day year and 30 day month Type your answer... 9 --D 10 1 point A credit card offers 18% annual interest rate, compounded daily. I have a balance of $2000 on the credit card. I can afford to make monthly payments of $125. How long (in months) will it take me to pay off the credit card debt. Round up to the next highest integer. Assume 365 day year and 30 day months. (Note that the actual problem will be slightly more involved as you will have to account for 31 day months as well) Type your answer... --DU 1 point A credit card offers 18% annual interest rate, compounded daily. I have a balance of $2000 on the credit card and wish to pay off the credit card in 1 year in equal monthly payments. How much would the monthly payments be? Assume 365 day year and 30 day months. (Note that the actual problem will be slightly more involved as you will have to account for 31 day months as well) Type your answer... DO D