4) The effective interest rate of 3.6% is equivalent to what quarterly periodic interest rate? Write your answer as a percentage to 3 decimal places.

5) What is the economic equivalent value of a payment $442.66 that was due 6 months ago and $415.15 that was due 3 months ago? Assume interest is 4.2% compounded quarterly.

6) What is the economic equivalent value of a payment $442.66 due in 6 months and $415.15 due in 3 months? Assume interest is 3% compounded monthly.