A bank pays interest semiannually with an EAR of 14%. What is the periodic interest rate applicable semiannually? A. 13.54% B. 5.42% C. 8.12% D. 6.77% A $41,000 new car loan is taken out with the terms 9% APR for 48 months. How much are monthly payments on this loan? A. $1,122.32 B. $1,020.29 C. $1,326.37 D. $1,224.34 An annuity pays $10.00 per year for 87 years. What is the present value (PV) of this annuity given that the discount rate is 5%? A. $118.28 B. $275.98 C. $236.56 D. $197.13