A project requires an investment of $1500 today. It pays $200 in 50 days, $400 in 100 days, $500 in 150 days, $800 in 200 days. So a payment is issued every 50 days. Suppose that you can borrow at 5% p.a. compounded annually and reinvest your cash at 6% p.a. compounded annually. Note: 50 days is not a year. The modified IRR of this project is % per annum, compounded annually. Bank B quotes an interest rate of 4.95% per quarter, compounded monthly. It is equivalent to an interest rate of % per annum, compounded annually. QUESTION 5 Bank C quotes an interest rate of 4.53% per month, compounded every 2 years. It is equivalent to % p.a. compounded annually