2 credit cards both state an APR of 10%.
FNB’s card charges 0.8333% compounded monthly. FUB's card charges 5%
compounded semiannually (twice a year).
Given these APR’s, what are the effective annual rates charged by
these two credit cards?
Lycan Inc. has 7.5% coupon bonds on the market that
have 18 years left to maturity and a face value of $1,000. The bonds make annual payments. If the yield to maturity on these bonds
is 4.25%, what is the current bond price?