Effective interest rate. State the rate per period and the number of periods in the following:

a. 12 percent per year, for 5 years, compounded annually

b. 12 percent per year. for 5 years, compounded semiannually

c. 1 2 percent per year, for 5 years, compounded quarterly

d. 1 2 percent per year, for 5 years, compounded monthly

(Appendix)