Question: 1. Tom Won The Jackpot Of Powerball. He Will Receive $50,000 Per Quarter

28. Your credit card company quotes you a rate of 17.9 percent. Interest is billed monthly. What is the actual rate of interest you are paying? A. 19.03 percent B. 19.21 percent C. 19.44 percent D. 19.57 percent 29. Tom won the jackpot of Powerball. He will receive $50,000 per quarter for 20 years. If you can earn 9 percent on your money, what is this prize worth to you today? A. $1,712,252.71 B. $1,738,411.06 C. $1,812,338.40 D. $1,847,489.04 30. You are looking at two investment options. Option A pays 5.25%, with daily compounding. Option B pays 5.3%, with semiannual compounding. Which investment will you choose? A. Option A B. Option B C. Both option are the same D. We can't tell given the available information