Question: Please help me check the answer is correct or not Question 1 (1 point) Saved Smith's savings earn an annual nominal rate i(4) = 0.06

Please help me check the answer is correct or not

Question 1 (1 point) Saved Smith's savings earn an annual nominal rate i(4) = 0.06 If the inflation rate is r=0.031 per year, what is the corresponding annual effective real rate for the year? please keep six decimal places for the rate. Your Answer: 0.029451 Answer Question 2 (1 point) Saved A loan L can be paid by a 15 year annuity-immediate with annual payments that pays 150 for the first 5 years, 260 for the rest of 10 years. at an effective interest rate of i=0.05, what is the loan L? Please keep 4 decimal places in your answer. Your Answer: 2,657.0726

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