A local bank will pay you $119 at the end of each year for your lifetime if you deposit $2,800 in the bank today. If you plan to live forever, what interest rate is the bank paying? (Enter your answers as a percent rounded to 2 decimal places.) Interest rate % What is the present value of the following cash-flow stream if the interest rate is 5%? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Year 1 2 3 Cash Flow $220 420 320 Present value Find the effective annual interest rate for each case. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) APR 14 % 9 Compounding Effective Annual Period Rate 1 month % 3 months % 6 months % 11 Find the APR (the stated interest rate) for each case. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) APR % Effective Annual Compounding Interest Rate Period 16.77% 1 month 7.12 6 months 10.38 3 months % %