The expenses of a venture is shown below. If the interest rate is 14.06% per year compounded monthly, find the following: (a) Effective annual interest rate (b) Present worth (at year 0) and (c) Annual worth (in years 1 to 7) The operation of a venture requires a payment of $20,000 now and amounts increasing by 5% per year through year 10. If the effective annual interest rate is 14%, find the present worth of the payments If a technology will make you earn $1, 300 per month beginning 3 months from now, how much could you afford to spend now to implement the technology at an interest rate of 12% per year, compounded monthly, if you want to recover you investment in 2 1/2 years