1.If an investment grew to $12,500 in 3 years and the interest amount earned was $1,250, calculate the nominal interest rate compounded quarterly.

%

Round to two decimal places

B.

Calculate the effective interest rate for each of the following nominal interest rates:

a. 3.18% compounded quarterly.%

Round to two decimal places

b. 3.18% compounded monthly.

%

Round to two decimal places

C.

Jeremy invested $215,000 to purchase a home. After 13 years, she sold the home for $285,000. Calculate the effective interest rate earned on this investment.

%

Round to two decimal places