Business Finance

mbibey

If your credit cards APR is 24% compounded daily, what is the effective annual interest rate that you are paying?
You want to accumulate $500,000 in a savings account in 20 years. If the bank pays 6% compounded annually, how much should you deposit in the account?
What is the present level of the prime rate? How does this rate relate to the current financing and overdraft charges for new building construction in your locality? (How many points above the prime is this rate?) Does this overdraft rate vary with the magnitude of the monies involved?