Q1: Your credit card company quotes you a stated rate (APR) of 16.7percent, for which interest is billed monthly.

What is the actual rate of interest (EAR) that you are paying? (round answer to whole number as a percentage, with two decimal points: i.e., use 1.23 percent instead of 0.0123)

Q2: What is the annual percentage rate (APR) on a loan with a stated rate of 3.9 percent per quarter? (round answer to whole number as a percentage, with two decimal points: i.e., use 1.23 percent instead of 0.0123)

Q3: Velma plans on saving $3,215 a year and expects to earn an annual rate of 10.25 percent. How much will she have in her account at the end of 45 years? (round answer to nearest dollar)