What is the future value of an ordinary annuity with equal payments of $450 being deposited into a money market account at the end of every year for three years if the interest rate is 7% and compounds once per year?
What is the present value of a 4-year uneven cash flow stream with $6500, $8200, $8400 and $32800 to be received the first, second, third and fourth years if the interest rate is 9% and compounds once per year?
If you take out a bank loan with a 17% quoted nominal interest rate that is compounded semiannually what is the effective annual rate (EAR)? What is the EAR if the loan compounds continuously?