Response to the following questions:
1. Explain how the assignment of receivables differs from factoring.
2. Distinguish between maturity factoring and conventional factoring of accounts receivable.
3. Calculate the effective annual rate that corresponds to each of the following alternative financings' annual percentage rates:
Alternative APR Frequency of Compounding
A 12% annually
B 12 semiannually
C 18 monthly
D 10 weekly
E 5 quarterly