1. You can purchase a machine that sells for $999 for $33 per month for 3 years. What is the APR are you paying on the loan? Using Excel
2. You just opened a credit card account with a quoted rate, or APR, of 18% per annum. What is the effective annual rate on the credit card? Using excel
3. Calculate the future value of $5,000 invested today for five years at 6% per annum, based on (a) annual compounding, (b) semi-annual compounding, (c) quarterly compounding, (d) monthly compounding, (e) weekly compounding (use 52 weeks per year), and (f) daily compounding (use 365 days per year). Solve using excel