Calculate the following:

a. Solve using the periodic interest rate formula i=(FVPV)(1 / n)1i=(FVPV)(1 / n)1.

Find ii, when PVPV = $2,200$2,200 , FVFV = 2,480.852,480.85 , nn = 88

ii =

Round to four decimal places

b. Solve using the equivalent interest rate formula i2=(1+i1)(m1 / m2)1i2=(1+i1)(m1 / m2)1

Find i2i2, when i1=0.0944i1=0.0944 , m1=4m1=4 ,m2=12m2=12

i2i2 =

Round to four decimal places