number 7

A) $4,888.89 B) $17,191.66 C) $20,451.68 D) $3,658.16 E) $ 18,333.33 7) Elliott Credit Corp. wants to earn an effective annual return on its consumer loans of 16 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? A) E) 16.00 % 17.35% B) 16.33 % D) 13.36% C) 14.85% 8) You are planning to make monthly deposits of $190 into a retirement account compoundad If aux fle Guffty that pays 11 percent interest how large will your retirement account