A credit card holder has $12,000 on a credit card that charges a nominal annual rate of interest compounded 12 times a year. If the card holder wants to pay off the credit card in 6 years, how much will the card holder need to pay? Use this information to complete the following: 1) If the card holder is a higher-risk customer, and the credit card company will charge 27.5% annual nominal rate of interest compounded 12 times a year. Compute: i. Monthly payment: ii. Total amount of money the card holder will pay: iii. Total interest amount the credit card company will earn:

Suppose that $4000 is placed in a savings account at an annual rate of 10.8%, compounded monthly. Assuming that no withdrawals are made, how long will it take for the account to grow to $6260? do not round any intermediate computations, and round your answer to  the nearest hundreth.

4)Jonathan invests $8,980 in a bank.  The bank pays 5.8% interest compounded quarterly a)How long must he leave the money in the bank for it to double? Round to nearest tenth of a year.  Show your work. b)How long will it take to triple? Round to nearest tenth of a year. Show your work. c)If Jonathan is given the choice to invest his money at 5.8% interest compounded quarterly for 5 years or invest his money compounding annually at a rate of 5.85% for 5 years, which option would be best for Jonathan? Explain and show your work.

How much should a $10,000 facevalue, zero-coupon bond, maturing in 10 years, be sold for now if its rate of return is to be 8% compounded annually?