Question: 5. Effective Annual Rate (EAR) problems. Remember, percentages must be to 2 decimal places, such as 5.25%: a. Abe has a credit card that has

5. Effective Annual Rate (EAR) problems. Remember, percentages must be to 2 decimal places, such as 5.25%: a. Abe has a credit card that has an annual percentage rate (APR) of 21%. Interest is compounded monthly. Calculate the EAR. b. From question "a". Calculate the EAR if interest is compounded weekly (assume 52 weeks.) c. From question "a". Calculate the EAR if interest is compounded continuously. d. Barb has a loan which has an APR of 6%. Interest is compounded semi-annually. Calculate the EAR e. Clyde borrowed money from Dewey, Cheatum & Howe at a rate of 20% a month. i. Calculate the APR. ii. Calculate the EAR

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