1

Complete the following using compound future value. (Use the following provided Table.) (Do not round intermediate calculations. Round your answers to the nearest cent.)

Time	Principal	Rate	Compounded	Amount	Interest
7 years	$8,500	6%	Quarterly	$	$

2.

Principal: $16,200

Interest rate: 12%

Compounded Quarterly

Calculate the effective rate (APY) of interest for 1 year. (Please use the following provided Table.) (Do not round intermediate calculations. Round your final answer to the nearest hundredth percent.)

Effective rate

%