1. Covered Call In the stock market, Buy a stock from Apple for $157.52. Sell call with strike $160. What is your max gain, loss and break-even. Show all work
2. What’s the interest rate of a 7-year, annual $3,800 annuity with present value of $20,000? (Round your answer to 2 decimal places.)
3. You are considering investing in a bank account that pays a nominal annual rate of 7%, compound ed monthly. If you invest $3,000 at the end of each month, how many months will it take for your account to grow to $150,000?