Suppose, you deposited $500 in a bank that pays a nominal interest rate of 10%, compounded daily, based on a 365-day year. What is the periodic rate (IPER)? How much would you have after 9 months (or 274 days)?

Question 10 options:

IPER= 0.00024658 per day

EFF% = $534.94

IPER=0.00032877 per day

EFF% = $547.12

IPER= 0.000273973 per day

EFF% = $538.97

IPER=0.00030137 per day

EFF% = $543.03

In an ordinary annuity, payments occur

Question 1 options:

	at a lump sum at the begnning of the project
	at the end of each period
	at a lump sum at the end of the project
	at the beginning of each period