A credit card has an APR of 18 per cent and charges interest monthly. The effective annual rate on this account will: be less than 18 per cent be less than or equal to 18 per cent equal 18 per cent be greater than or equal to 18 per cent be greater than 18 per cent The Reserve Bank of Australia expects the inflation rate in Australia to be 4.50% and financial analysts evaluate the risk-permium on small company shares to be 3.70% for the year. The Commonwealth Government's T-notes yield is expected to be 8% for the next year. What rate of return is expected to be earned on small-company stocks over the next year? 8.20% 4.50 % 11.20% 11.70 % 12.23%