4. If Sultan expects the investment to increase in value at a rate of 6.5% compounded annually for the next year. What is the effective interest rate? 5. What is the effective rate of return of a nominal interest rate of 6.5 % compounded semiannually? 6. What is the effective rate of return of a nominal interest rate of 6.5 % compounded quarterly? 7. What is the effective rate of return of a nominal interest rate of 6.5 % compounded daily? 8. Nancy received an inheritance of $1,000,000. She expects to earn 8% annual interest, compounded monthly on her investments. What is her effective interest rate? 9. What would be the value of a savings account started with $44,000, earning 6.5 percent (compounded annually) after 9 years? (For questions -13). How much would you have to invest today to receive 10. $36,000 in 10 years at 3 percent? 11. $45,000 in 5 years at 6 percent? 12. $55,000 in 7 years at 9 percent? 13. 565,000 in 12 years at 7.99 percent