3-40 If the nominal annual interest rate is 9% com- A pounded quarterly, what is the effective annual interest rate? Jill deposited $8000 into a bank for 6 months. At the end of that time, she withdrew the money and e 30 com- pay- crest received $8250. If the bank paid interest based on continuous compounding: (a) What was the effective annual interest rate? (b) What was the nominal annual interest rate? TI li T tion ver wear ded ent Minicases 3-56 The local garbage company charges $6 a month A for garbage collection. It had been their practice to send out bills to their 100,000 customers at the end of each 2-month period. Thus, at the end of