Question: QUESTION 18 5 points Save Answer A loan has monthly compounding. If the stated (nominal) rate is 156, what is the effective annual rate? 15.996

QUESTION 18 5 points Save Answer A loan has monthly compounding.

QUESTION 18 5 points Save Answer A loan has monthly compounding. If the stated (nominal) rate is 156, what is the effective annual rate? 15.996 0 16.196 15.296 0 15.4% none of the above 15.865 QUESTION 19 5 points Save Answer You have $40,000 saved so far, and will continue to save $400 at the end of each month. If you earn 9% compounded monthly, how much will you have accumulated at the end of 40 years? $2.369,516 $2,099.249 $1,361,648 $3,316,924 o none of the above QUESTION 20 5 points Save Answer A perpetuity returns cashflow in the amount of $250 per month. Using a rate of 6%, what is the present value of the monthly perpetuity? $25,000 $45,000 $125,000 $50,000 none of the above

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