14. Problem 4.68 An interest rate of 12% per year, compounded monthly, is nearest to which of the following? 12.08% per year 12.28% per year 12.48% per year 12.68% per year a. b. c. d. 15. Problem 4.69: An interest rate of 2% per month is the same as which of the following? a. b. C. d. 24% per year, compounded monthly Nominal 24% per year, compounded monthly Effective 24% per year,compounded monthly Both (a) & (b)