Elliott Credit Corp. wants to earn an effective annual return on its consumer loans of 12 percent per year. The bank uses daily compounding on its loans. What interest rate is the bank required by law to report to potential borrowers? Multiple Choice O 1275% 11.33% 10.20% 12.00% 12.47% You're prepared to make monthly payments of $320, beginning at the end of this month, into an account that pays 10 percent interest compounded monthly. How many payments will you have made when your account balance reaches $20722? Multiple Choice 57.2 4.53 52 46.8 21.11 The appropriate discount rate for the following cash flows is 10 percent compounded quarterly Year 1 Cash Flow $900 700 0 1,200 3 4 What is the present value of the cash flows? Multiple Choice 52.216.31 $529.11 $2,154 26 $2.198.23 $2.242.19