Bonus: For the cash flow diagram shown, the unit of the payment period (PP) is: (1 pts) (a) Months (c) Semiannual (b) Quarters (d) Years F-? 7-1% per month 2 3 4 6 7 8 9 10 11 12 Quarter Year $400 $400 $420 5440 $400 5480 $500 Bonus: An interest rate of 8% per 6 months, compounded monthly, is equivalent to what effective rate per quarter? (1 pt)