A credit card has a stated interest rate of 13.3 percent. What is the APR if interest is compounded monthly? 

Charming Charlies charges a daily rate of 0.03 percent (.03% or .0003) on its store credit cards. What interest rate is the company required by law to report to potential customers?

 

Charming Charlies charges a daily rate of 0.03 percent (.03% or .0003) on its store credit cards. What is the effective annual rate it charges its customers?

 

Curtis Builders is borrowing $150,000 today for 5 years. The loan is an interest-only loan with an APR of 9.5 percent. Payments are to be made annually. What is the amount of the first annual payment?

 

What is the future value of a lump sum of $100,000 invested for 6 years at an annual return of 4.0%

 

You deposit $1,000 in a savings account that pays 9 percent interest, compounded annually. How much will your account be worth in 6 years?

 

Jennifer wants to save enough for a deposit on a car which she hopes to buy after her graduation, expected to be 3 years from today. If she buys a 3-year CD of $2,000 earning 2.0% per year, how much will she have for the deposit on her graduation?