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1) What is the effective interest rate per payment for payments that occur once every six months when the interest rate is an annual 20% that is compounded weekly?a. 20%/26b. (1+20%/52)26-1c. (1+20%/52)52-1d. (1+20%/26)26-12) You have made an investment that pays you $2000 at the end of the first year and then decreases by 9% each year for 4 more years (5years total). What is the FUTURE worth of this investment? (interest rate = 9%).a. $10162b. $11027c. $11047d. $66053) You receive a $1100 cash flow at Present which will repeat itself every THREE years to infinity. Assuming an annual interest rate of 10% what would be the Capitalized Equivalent (CE)?a. $5055b. $4423c. $4884d. $42614) You took a $5000 48-month car loan with 10% nominal annual interest rate. How much money do you still owe after the 23rd payment? (Assume monthly compounding on your interest rate and equal monthly payment).a. $2616.81b. $2753.12c. $2833.69d. $2851.20

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