You are offered $80,000 today or $300,000 in 15 years. Assuming that you can earn 13 percent on your money, which should you choose?

If you are offered $300,000 in 15 years and you can earn 13 percent on your money, what is the present value of $300,000?$ (Round to the nearest cent.)

Your grandmother asks for your help in choosing a certificate of deposit (CD) from a bank with a one-year maturity and a fixed interest rate. The first certificate of deposit, CD #1, pays 4.95 percent APR compounded semiannually, while the second certificate of deposit, CD #2, pays 5.00 percent APR compounded weekly. What is the effective annual rate (the EAR) of each CD, and which CD do you recommend to your grandmother?

If the first certificate of deposit, CD #1, pays 4.95 percent APR compounded semiannually, the EAR for the deposit is %(Round to two decimal places.)