Question: please answer each question as directed 1. Define the Effective Annual Rate (EAR) and explain its purpose. 4 Marks 2. List the two (2) important

please answer each question as directed

1. Define the Effective Annual Rate (EAR) and explain its purpose. 4 Marks 2. List the two (2) important relationships pertaining to present value. 3 Marks 3. Define an annuity and distinguish between and ordinary annuity and an annuity due. 3 Marks

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