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7. You buy an investment that earns an Annual Percentage Rate (APR) of 24% per year, with monthly compounding. a. What is the investment's periodic

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7. You buy an investment that earns an Annual Percentage Rate (APR) of 24% per year, with monthly compounding. a. What is the investment's periodic rate, (Iper)? (2 points) b. What is the investment's Effective Annual Rate (EAR)? (2 points) 8. Zion Williamson has a 7-year contract with Jordan Brand that pays him $11 million each year. If his discount rate is 8.5%, what is the present value of this stream of payments? (4 points)

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