How much interest is earned on 50000 invested for three, Microeconomics

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How much interest is earned on 50000 invested for three

Question: 1. How much interest is earned on £50,000 invested for three months at a nominal annual interest rate of 5%? If money can be reinvested each quarter at the same rate, what is the AER?

2. If a credit card company charges 1.48% a month on any outstanding balance, what APR is it charging?

3. A building society pays an AER of 5.5% on an investment account, calculated on a daily basis. What daily rate of interest will it pay?

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Microeconomics: How much interest is earned on 50000 invested for three

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