1. The effective interest rate is 14.27% at 65 weeks. If interest is compounded weekly, what is the effective rate per year at 52 weeks?
2. Why did the Fed switch to the language of “quantitative easing” rather than merely continue with that of earlier times?
3. Find the present value of $8,400 to be received 9 years from today, if the annual interest rate is 10 percent, compounded every two years.