Review Questions for next time: 1. You get two credit offers in the mail... a credit card that is offering an interest rate of 10.25% APR, compounded daily, and a bank line of credit at 10.30% APR, compounded quarterly. Which offers the best interest rate? 2. Bob wants to save for his daughter's college tuition. SMU is offering a deal where you can buy one semester worth of education today at today's prices ($27,247 per semester) for use anytime in the future. His daughter expects to use this tuition in exactly 7 years. Bob also expects SMU tuition to increase by 5% per year. How much does Bob expect SMU tuition to be in 7 years? Bob can also invest in education bonds that will earn 7% per year after tax. How much would he have to invest today to have the expected tuition in 7 years? Which is better? Is there anything else you would have Bob consider