A debt of $10,000 must be paid in a series of equal monthly payments for 5 years. The nominal interest rate is 12%, compounded monthly. The amount of each monthly payment is: $ (answer to nearest dollar) The effective annual interest is: % (answer to one hundredth of percent) In order to make CDs (Certificates of Deposit) look more attractive as an investment than they really are, some banks advertise that their rates are higher than their competitors' rates; however, the fine print says that the rate is based on simple interest. If you were to deposit $10,000 at 10% per year simple interest in a CD, what compound interest rate would yield the same amount of money in 3 years