Question $4$

$14$ pts

You are offered a court settlement in the following terms: you will receive $7$ equal payments of $$4,927$ each every year, with the first payment being made $4$ years from now. The current annual interest rate is $3\%.$ Assume yearly compounding. What is this settlement worth in present value terms?

Enter your answer in terms of dollars, rounded to the nearest cent, and without the dollar sign $(\text{'}$ $ $\text{'}).$ So$,$ for example, if your answer is $$546\mathrm{.}3456,$ then enter $546\mathrm{.}35$

Question $5$

$14$ pts

You check your credit card balance, and notice that the interest rate is quoted as $21\mathrm{.}8\%$ APR. You also know that interest is compounded monthly. What is the Effective Annual Rate on your credit card?

Enter your answer as a percentage, rounded to two decimals, and without the percentage sign $(\text{'}\%\text{'}).$ For example, if your answer is $0\mathrm{.}123456,$ then it is equivalent to $12\mathrm{.}35\%,$ so you should enter $12\mathrm{.}35$ as the answer.help