Question 1: Complete the following sequence of problems (a) : Most credit cards have upwards of 16% annual interest compounded daily. Compute the annual yield for this interest; what does this suggest about this typical credit card interest rate? (b) Suppose Bob has a credit card with 16% interest compounded daily; if Bob does not pay off a $100 purchase on his card at the end of the month, compute the future value of the loan after a week. (c) Suppose after the first week, Bob makes an additional $100 purchase and continues to not pay off his loan. Compute the size of his debt after three more weeks. (d) At this point, Bob realizes his debt is growing at an alarming rate; he starts making daily payments to curbits growth. How much does he need to pay to counteract the interest (that is, keep the future value constant each day)