a) Answer each of the following: You are given that j12=6% for the first two years, j4 = 4% for the next three years and j2=4% thereafter. Calculate the equivalent effective annual rate over 8 years. b) Calculate the present value of $25,000 due in 41 months time. You are given that j6=6% and to assume the practical (approximate) method is used. a) Answer each of the following: You are given that j12=6% for the first two years, j4 = 4% for the next three years and j2=4% thereafter. Calculate the equivalent effective annual rate over 8 years. b) Calculate the present value of $25,000 due in 41 months time. You are given that j6=6% and to assume the practical (approximate) method is used