C

C.7. A type of calculator which sold new for 5130 two years ago has declined to a selling price new of $59.95 today. What negative percent rate of change per year does this declinc in price represent? (Ans. i= -32.1% C.8. A $1,000 investment eams $20 in interest each quarter. This principal remains intact. (a) What actual cate of interest is camned? (b) What nominal annual rate of interest is camed? (c) What annual effective rate of interest is earned? C.9. A major credit card company charges 1.5 percent interest on the unpaid balance each month. (a) What nominal annual interest rate is charged? (Ans. ix = 18%) (b) What effective annual interest rate is charged? (Ans. ie= 19.56%)