2. The nominal interest rate is the stated interest rate of a bond or loan, which signifies the actual monetary price borrowers pay lenders to use their money. (a) Given a series of 10 end-of-year receipts of RM 1,000 each, compute the equivalent worth as one of the tenth year given the nominal interest rate is 12% compounded quarterly. ( 10 ) () It takes RM 10,000 to put on the local art festival each year. Immediately before this year's festival, the sponsoring committee determined that it had RM 60,000 in an account paying 8% interest. After this year, how many more festivals can be sponsored without raising more money? ( 10 ) ( Total / Jumlah: 20 )