Question: ( Home work problems -- Show your work) 1. What's the loan effective annual rate? (EAR)? A loan is offered with monthly payments and a

( Home work problems -- Show your work)

1. What's the loan effective annual rate? (EAR)? A loan is offered with monthly payments and a 10 percent APR. (LG5-7)

2. What is the future value if given a 5 percent interest rate, compute the year 6 future value of deposits made in s 1,2, 3, and 4 of $1000, $1300, 1300, and 1400? (LG5-1)

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