1. You get a new credit card from your bank. The document that comes with the card informs you that the interest rate on that card is 10.2% APR. What is the effective annual rate you'll actually be paying?
2. A firm has $520 in inventory, $1,860 in fixed assets, $290 in accounts receivables, $210 in accounts payable, and $70 in cash. What is the amount of the current assets?
3. As with most bonds, consider a bond with a face value of $1,000. The bond's maturity is 10 years, the coupon rate is 13% paid semiannually, and the discount rate is 11%. What is the estimated value of this bond today?