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Melina invested $4,000 for 7 years at a nominal rate of 5.43% compounded quarterly. a. Find the effective interest rate which is equivalent to 5.43% compounded quarterly. b. Find Melina's future value using the nominal rate. c. Find Melina's future value using the effective rate. d. Do your answers to (b) and (c) agree? Should they? Suppose that you are due a $750 paycheck at the end of the week, but want or need to get your hands on the cash on Monday. Suppose that such a lender offers to make this deal with you for a fee of 2% of the paycheck. What is the equivalent simple discount rate