1- suppose you have recevied a credit card offer from a bank that an annaul rate of 4% , but it is compounded quarterly . the effective annual interest rate is (show your work )
A- if compounded monthly, the effective rate is ?
B- if compoinded daily , the effective rate is ?
2- how much will $3,900 be worth in 8 years with 9% interest compunded weekly ? (show your work )
3- how much money must you deposit now to have $5,900 in five years at 9% compunded weekely ? (show your work )