Q1 An endowment will pay $10,000 each year starting one year from today, forever. What is the value of the endowment if the interest rate earned is 5% per year?

Q2 Suppose your credit card APR is 30% a year on outstanding balances. What is the effective annual rate (as a percentage) charged if interest is charged every month (monthly compounding)?

Do not put in the % sign when entering the answer and answer with 2 decimal places.