Chrome File Edit View History Bookmarks Profiles Tab Window Help Q 8 Tue Nov 2 3:52 PM A Webassign - Math 116 - MATH X A Section 5.3 - Math 116, section C Diego Deposited A Certain Sun X *Course Hero X Homework Help - Q&A from Or x + C webassign.net/web/Student/Assignment-Responses/submit?dep=28041601&tags=autosave#question4524870_0 B Update : HOW IUIly Will It Lake IU1 all IliveStillelIL UI uvuvie II / year CUllipullutu LUIILIIluvusly noullu youI a e uelillial place. 11.6 yr Need Help? Read It Watch It 10. [-/1 Points] DETAILS TANAPCALC10 5.3.058. MY NOTES PRACTICE ANOTHER Investment Analysis The effective rate of interest can be calculated using the formula Teff = (1 + !) -1 where roff is the effective rate of interest, r is the nominal interest rate per year, and m is the number of conversion periods per year. Find the nominal interest rate that, when compounded monthly, yields an effective interest rate of 2%/year. (Round your answer to two decimal places.) % Need Help? Read It Watch It 11. [2/2 Points] DETAILS PREVIOUS ANSWERS TANAPCALC10 5.3.005. MY NOTES PRACTICE ANOTHER Find the effective rate corresponding to the given nominal rate. (Round your answers to three decimal places.) (a) 4%/year compounded semiannually 4.04 % (b) 3%/year compounded quarterly 3.034 % 1008 NOV 2 itv A SN