Diana's software company is thinking of buying an original Picasso for $400,000 with the intention of selling it at the end of the year. The company expects that the painting will be worth $480,000 in one year. If the interest rate is 10%, should the company buy the piece of art?

h.) Should the company purchase the painting if the interest rate is 25%?

i.) The Diana company wants to calculate the end-of-the year wealth if the company receives an annual rate of 24% compounded monthly. Calculate the effective annual rate.

j.If an annual percentage rate of 24% is compounded quarterly, what is the effective annual rate for Diana software company?