1. Ben invests 1000 in a fund which earns interest during the first year at a nominal rate of M convertible quarterly. During the second year the fund earns interest at a nominal discount rate of M convertible quarterly. At the end of the 2nd year, the fund has accumulated to 1150. Calculate M. (A) .0699 (B) .0722 (C).0777 (D).0665 (E) .0800