6. If the stated annual interest rate is 11% and the frequency of compounding is daily, the effective annual rate is closest to: A. 11.00% B. 11.57% c. 11.63% D. None of the above 7. A fixed income instrument with a stated annual interest rate of 18% and offers monthly compounding has an effective annual rate (EAR) closest to: A. 18.00% B. 19.56% C. 20.12% D. None of the above 8. An investment earns an annual interest rate of 12 percent compounded quarterly. What is the effective annual rate? A. 3.00% B. 12.00% C. 12.55% D. None of the above 9. How much amount should an investor deposit in an account earning a continuously compounded interest rate of 8% for a period of 5 years so as to earn $2,238? A. $1500. B. $1523 C. $1541. D. None of the above Answer all 10. The present value of $10,000 to be received five years from today, assuming a discount rate of 9% compounded monthly, is closest to, A. $6,387. B. $6,499. C. $6,897 D. None of the above 11. An investor deposits 1,000 into an account that pays continuously compounded interest of 9% (nominal annual rate). The value of the account at the end of six years is closest to: A. 1,677 B. 1,712 C. 1,716. D. None of the above