Your credit card says it charges 15.1% APR with daily compounding. What real annual rate are they charging? That is, find the effective annual rate (EAR). Express in percentage and round it to two decimal places
The future worth in year 10 of an arithmetic gradient cash flow series for years 1 through 10 is $500,000. If the gradient increase each year, G, is $3,000, determine the cash flow in year 1 at an interest rate of 10% per year.
Target issues a bond with a par value of $1,000 it carries a maturity term of 25 years there is a coupon interest rate of 6.40% interest is compounded annually the yield to maturity (YTM) is 7.50% whta is the current price of the target bond?