please answer each question..

Q1: Compute the effective interest rate on the loan without taking future values into consideration. Show your work. No work means no credit. a) 10.4554 percent b) 10.8360 percent c) 10.8556 percent d) 10.8816 percent e) 11.9025 percent Q2: (Worth 5 points) Compute the effective interest rate on the loan using future values (assuming that the bank can earn 6.00% on its fee income). That is, both the net fee and interest income are evaluated at the end of the year when the loan is due. Show your work. a) 10.4554 percent b) 10.8360 percent c) 10.8556 percent d) 10.8816 percent e) 11.9095 percent Q3: (Worth 5 points) Compute the effective interest rate in question (Q1) affected if the reserve requirements on demand deposits are zero as they are today. Show your work. a) 10.4000 percent b) 10.8300 percent c) 10.8556 percent d) 10.8816 percent e) 9.90 percent