1.Find the annual effective rate that is equivalent to 8.2% compounded daily (assume 360 days in a year)

2.Chow Fah deposited RM1,000 in a savings account at 3% compounded monthly. Find the number of months required if she wanted the amount in the account to become RM1.498.54.

3.Find the nominal rate compounded every two months which is equivalent to 10% compounded semi-annually.

4.Given two interest rates (a) 9% compounded monthly and (b) 9.5% compounded every four months, which of the two interest rates provides a better return?