1. Your credit card has an annual percentage rate of 13.35 percent and compounds interest monthly. What is the effectiv

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answerhappygod
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1. Your credit card has an annual percentage rate of 13.35 percent and compounds interest monthly. What is the effectiv

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1. Your credit card has an annual percentage rate of 13.35
percent and compounds interest monthly.
What is the effective annual rate?
Can you show me how to do it by using a calculator.
2. Sloth Enterprises' bonds have a 22-year maturity, a 6.57%
coupon, and a par value of $1,000.
The going interest rate (rd) is 3.26%. Assuming semiannual
compounding, what is the bond's price?
Can you show me how to do it by using a calculator.
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