Find the APR, or stated rate, in each of the following cases (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.):

Stated Rate (APR)				Number of Times Compounded				Effective Rate (EAR)
	%				Semiannually			12.2	%
					Monthly			13.1
					Weekly			10.8
					Infinite			14.5

An investment will pay you $18,000 in 8 years. The appropriate discount rate is 7 percent compounded daily. Required: What is the present value? Multiple Choice $10,476.16 $9,768.20 $10,796.43 $10,590.78 $10,282.32