Q1: From the interest statement 18% per year, compounded monthly, determine the values for interest period, compounding period, and compounding frequency? Q2: What nominal interest rate per year is equivalent to 11.5% per year, compounded monthly? Q3: For an interest rate of 1% per 2 months, determine the number of times interest would be compounded in (a) 2 months, (b) two semiannual periods, and (c) 3 years.

Q4: Please read section 4.2 Effective Annual Interest Rates in your textbook and then answer the following: for an effective annual rate i of 15.87% compounded quarterly, determine (a) the effective quarterly rate and (b) the nominal annual rate. Q5: What is the future worth of a present cost of $285,000 to Monsanto, Inc. 5 years from now at an interest rate of 2% per month?