What is the APR of an account paying 10% EAR with monthly compounding? Enter your answer as a percent without the percent sign. Round your final answer to two decimals.

Question 2

Suppose that you will make 25 annual deposits of $ 2,000 in an account with an APR of 15% and monthly compounding. Assuming that the first deposit will occur immediately and the remaining deposits occur exactly one year apart, how much money will be in the account at the end of the 25 years? Round your final answer to two decimals.

Question 3

Suppose that you have inherited an annuity that will pay $ 1,500 one year from now, each of the following 29 annual payments will be 7% larger than the prior payment. Assuming that the annual opportunity cost of capital is 15%, what is the value of this annuity today? Round your final answer to two decimals.

Question 4

Suppose that you have inherited a perpetuity that will pay $ 2,400 one year from now, each of the following annual payments will be 3% larger than the prior payment. Assuming that the annual opportunity cost of capital is 12%, what is the value of this perpetuity today? Round your final answer to two decimals.

Question 5

Suppose that five years from now you will inherit a perpetuity that will initially pay $ 1,200. Each of the following payments will be 5% larger than the prior payment. Assuming that perpetuity makes annual payments and the annual opportunity cost of capital is 15%, what is the value of this perpetuity today? Round your final answer to two decimals.

Question 6

Suppose that you have inherited an annuity that will begin making payments 6 years from now. It will initially pay $ 2,000, but each of the following 29 annual payments will be 3% larger than the prior payment. Assuming that the annual opportunity cost of capital is 14%, what is the value of this annuity today? Round your final answer to two decimals.

Question 7

Suppose that your child plans on attending college beginning 12 years from now. Assume that college currently costs $ 10,000 per year and this cost is expected to grow by 6% per year. What monthly deposit into an account paying 14% APR compounded monthly will you need to make to fund four years of college? Round your final answer to two decimals.