A nominal interest rate (r) r=interest rate per period x number of compounding periods 1. The interest rate of 1.5% per month is the same as each of the following nominal rate a) 36% per 2 years b) 18% per 12 months c) 24% per year d) 4.5% per 3 months 2. "=1,5% per month, then what is the effective rate for this statement? 3. From the interest statement 18% per year, compounded monthly, determine the values for interest period, compounding period, and compounding frequency. 4. From the interest statement 1% per month, determine the values for interest period, compounding period, and compounding frequency. 5. Janice is an engineer with Southwest Airlines. She purchased Southwest stock for $6.90 per share and sold it exactly 1 year later for $13.14 per share. She was very pleased with her investment earnings. Help Janice understand exactly what she earned in terms of (a) effective annual rate and (b) effective rate for quarterly compounding, and for monthly compounding. Neglect any commission fees for purchase and selling of stock and any quarterly dividends paid to stockholders