Attempts Score 3. Nonannual compounding period A-Z The number of compounding periods in one year is called compounding frequency. The compounding frequency affects both the present and Me values of cash flow An Investor can invest money with a particular bank and earn a stated interest rate of 6.60%; however, interest will be compounded quarterly what are the nominal, periodie, and effective interest rates for this investment opportunity Interest Rates Nominal rate Periodic rate Effective annual race You want to invest $24,000 and are looking for safe investment options. Your bank is offering you certificate of epost that paysa nominal rate of 6 that is compounded quarterly. What is the effective rate of return that you will earn from this investment 5.995 O 6.1365 06.313 6.2215 6,1369 O 6.3139 O 6.221% Suppose you decide to deposit $24,000 in a vings pays inal rate of 12%, but interest is compounded daily. Bas 365-day year, how much would you have in the account after four months? (Hint: To calculate the number of days, divide the number of months by 12 and multiply by 365.) O $26,228.55 $24,230.18 $24.979.57 0 $25,479.16 Save & Continue Continue without saving 66F Mostly sunny O O II E ON