You are the beneficiary of a trust that pays you $25,000 per year for the next 15 years and assumes a 7.5% required rate of return.
Use this information to answer the following questions using Excel formulas in the space provided.
	pmt	$25,000		Present Value for Ordinary Annuity
	per	15		Present Value for Annuity Due
	rate	7.50%		Future Value for Ordinary Annuity
	fv	$652,959		Future Value for Annuity Due
If the interest rate is quoted and compounds monthly, what are the following interest rate?
				Quoted Rate per month
				Annual Percentage Rate (APR)
				Effective Annual Rate (EAR)