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3. Chapter MC, Section .05, Problem 044 Your bank account pays an 8% nominal rate of interest. The interest is compounded quarterly. Which of the

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3. Chapter MC, Section .05, Problem 044 Your bank account pays an 8% nominal rate of interest. The interest is compounded quarterly. Which of the following statements is CORRECT? The periode rate of interests and the effective rate of interest is also b. The periodic rate of interest is 4% and the effective rate of interest is less than 8% O . The periodic rate of interests and the effective rate of interest is greater than Od. The periodic rate of interest is 2% and the effective rate of interest is 4% The periodic rate of interes and the effective rate of interest is greater than

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