Wolverine has some money in his bank account that is paying a 12% nominal rate of interest. The interest is compounded quarterly. From the list below, which statement is correct?

Group of answer choices

The periodic rate of interest is 3.0% and the effective rate of interest is 6%.

The periodic rate of interest is 12% and the effective rate of interest is greater than 12%.

The periodic rate of interest is 3.0% and the effective rate of interest is greater than 12%.

The periodic rate of interest is 6% and the effective rate of interest is 12%.

The periodic rate of interest is 12% and the effective rate of interest is also 12%.

Flag question: Question 2

Question 24 pts

Catwoman decides to make a deposit of $575 into an account that will make her 7 percent interest in the first year and 9 percent interest in the second year. What would be the future value of her investment in the second year?

Group of answer choices

$585.75

$615.25

$626.75

$670.62

$683.16

Flag question: Question 3

Question 34 pts

Quark wants to know what would be the present value of $7,000 that will be paid in two years, knowing that the discount rates for the first year is 6 percent and the second year will be 8 percent he has asked you to calculate this amount.

Group of answer choices

$6,114.61

$6,305.63

$6,481.48

$6,603.77

$6,870.15

Flag question: Question 4

Question 44 pts

The Caped Crusader is looking at retiring and he is looking to see what the future value of an $800 annuity payment would be, paid over seven years, assuming that he will earn a 10 percent interest rate calculate this amount.

Group of answer choices

$6,389.34

$6,984.87

$7,589.74

$8,635.49

$10,912.82

Flag question: Question 5

Freds Pizzeria is looking into investing some money and he would like for you to calculate what the present value of a $3,000 deposit in year 1 and another $2,500 deposit at the end of year 3, would be if the Pizzeria were to earn an interest rate of 12 percent.

Group of answer choices

$3,779.49

$4,177.57

$4,458.02

$4,925.38

$5,178.35