At what rate, converted monthly could you double your money in 2 years? Give both the interest rate per month and the nominal annual interest rate. Tim invests $10000 for 5 years at a nominal annual rate of 3%. Find the final amount and the annual percentage yield if: (a) interest is compounded annually. (b) interest is compounded semi-annually. (c) interest is compounded monthly. What is the present value of $16000 to be paid in 6 years assuming compound interest compounded semi-annually with a nominal annual rate of 7%