(Related to Checkpoint 5.7)(Calculating an EAR) After examining the various personal loan rates available to you, you find that you can borrow funds from a finance company at 11 percent compounded or from a bank at 12 percent compounded . Which alternative is more attractive? If you can borrow funds from a finance company at 11 percent compounded , the EAR for the loan is nothing%. (Round to two decimal places.)

(Related to Checkpoint 5.3) (Compound interest with non-annual periods) Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period: Amount Annual Compounding Compounding Account Holder Deposited Interest Rate Periods Per Year (M) Periods (Years) Theodore Logan 111 $ 1,000 16% 1 10 Vernell Coles 95,000 12 12 3 Tina Elliot 8,000 8 3 Wayne Robinson 119,000 12 4 3 Eunice Chung 29,000 16 2 6 Kelly Cravens 13,000 8 6 4 4 a. The amount of money in Theodore Logan IIl's account at the end of 10 years will be $ 4411.4. (Round to the nearest cent.) b. The amount of money in Vernell Coles' account at the end of 3 year(s) will be $ 135,923.03" (Round to the nearest cent.) c. The amount of money in Tina Elliot's account at the end of 4 years will be $ 10,970.93) (Round to the nearest cent.) d. The amount of money in Wayne Robinson's account at the end of 3 years will be $ 169,665.55 (Round to the nearest cent.) e. The amount of money in Eunice Chung's account at the end of 6 years will be $ 262136.35. (Round to the nearest cent.) (Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single investment and have $2.2 million at the time of her retirement in 34 years. She has found a mutual fund that will earn 8 percent annually. How much will Sarah have to invest today? If Sarah earned an annual return of 17 percent, how soon could she then retire? a. If Sarah can earn 8 percent annually for the next 34 years, the amount of money she will have to invest today is $ 160699. (Round to the nearest cent.) b. If Sarah can earn an annual return of 17 percent, the number of years until she could retire is years. (Round to one decimal place.)