Question $8$

$14$ pts

You check your credit card balance, and notice that the interest rate is quoted as $18\mathrm{.}8\%$ 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.

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Question $9$

$14$ pts

Assume that, starting next year, you make annual deposits of $$308$ into a savings account that pays $6\%$ interest. How much will you have in your account after $11$ years?

Enter your answer in terms of dollars and cents, rounded to $2$ decimals, and without the dollar sign. That means, for example, that if your answer is $$127\mathrm{.}5678,$ you must enter $127\mathrm{.}57$