Answer the following three questions using EXCEL, please show the formula used.

A) What is the present value (discounting at 11% per year) of an investment that makes a cash payment of $200 per year for the next 10 years and is worth $2000 at the end of the tenth year?

B) A credit card company quotes a rate of .05% per day compounded daily. What is the EAR? What is the APR?

C) Suppose that I buy an annuity that makes payments of $100 per month beginning 5 years from today and continuing for ten years after that (a total of 120 payments). What is the present value of the annuity (use a discount rate of 11%). For Part C, The following image shows the formula and cell inputs recommended by someone else on Chegg and I do not think the answer is correct... Please let me know your thoughts.

$ 100.00 Monthly payment monthly interest rate term 1 0.9167% 60 months term 2 120 months PV of per=(L8*(1-(1+L9)^-L11))/(1+L9)^(L10-1) $ 100.00 Monthly payment monthly interest rate term 1 0.9167% 60 months months term 2 120 PV of perpetuity $ 38.843