1.

After 10 years of semi-annual compounding, an $8000 investment in a GIC earns $3000 in interest. What is the nominal interest rate?

Select one:

a.3.51%

b.3.61%

c.3.71%

d.3.21%

e.4.21%

2.

What monthly compounding nominal interest rate is earned on an investment that doubles in 8 years?

Select one:

a.8.60%

b.8.40%

c.8.70%

d.8.50%

e.8.80%