7. If money is worth 12% per annum, compounded monthly, how long will it take the principal P to become four times the original value?

[1] 69,66 years

[2] 7,27 years

[3] 139,32 years

[4] 11,61 years

[5] None of the above.

8. An effective rate of 29,61% corresponds to a nominal rate, compounded weekly, of

[1] 34,35%.

[2] 26,00%.

[3] 29,53%.

[4] 29,61%.

[5] none of the above.