Your monthly statement from your bank card shows that the monthly rate of interest is 1.5%. What is the annual effective rate of interest you are being charged on your credit card? If a 16 year old high school student put exist2,000 at the end of each year for 4 years into an IRA that earned a rate of 9%, how much would she have accumulated by age 65? Assume funds are left to accumulate for 45 years (age 20 - 65) at 9%. You plan to invest in securities that pay 8.0%, compounded annually. If you invest exist5,000 today, how many years will it take for your investment to grow to exist9, 140.20? In six years, your daughter will be going to college. You wish to have a fund that will provide her exist10,000 per year (end of year) for each of her four years in college. How much must you put into that fund today if the fund will earn 10 percent in each of the 10 years