1. Calculate the nominal rate of interest compounded semi-annually that is equivalent to an effective rate of 5.76%. Express the final answer as a % rounded to 1 decimal place. ans = 5.7% 2. Liam bought a car for $16 800 with a down payment of $3500 and got a loan for the remaining amount. Interest was 13.2% compounded quarterly which gave him quarterly payments of $500. How long was his loan for? ans = 16.2 Round the final answer to 1 decimal place