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Find the EAR in each of the following cases. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal
Find the EAR in each of the following cases. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. Use 365 days in a year.) Effective Rate (EAR) % Number of Times Stated Rate (APR) Compounded 9.50 % Quarterly 16.50% Monthly 15.50 % Daily 11.50 % Semiannually % % % Wells, Inc., has identified an investment project with the following cash flows. Year 1 2 3 4 Cash Flow $ 970 1,200 1,420 2,160 a. If the discount rate is 7 percent, what is the future value of these cash flows in Year 4? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the future value at an interest rate of 13 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. What is the future value at an interest rate of 22 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Future value at 7 percent b. Future value at 13 percent Future value at 22 percent c
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