What is the effective annual rate of a 12% APR compounded monthly? a. 1% O b. 12.68% O c. 12% O d. 12.12% Your grandmother bought $10,000 of a stock many years ago. The stock is worth $1,000,000 today. If the stock returned 18% annually. approximately how many years ago did she buy the stock? a. 27 b. 28 O c.29 d. 30 How much money would you need to save today if you wish to have $1,000,000 in 20 years and you expect to earn 8% annually? a. S286,546 b. S125.000 c. $214,548 d. 5311.805