Compute the stated interest rate on a promotional credit card if the effective interest rate is 8.0%. Assume that interest is compounded (a) semi- annually and (b) quarterly. (Note: Round your answers to two decimal places.) O EFFECT O DISC ORATE O NOMINAL A B 1 Data Description 2 Compounded semi-annually 3 Interest Rate 4 8.16 % 5 Compounded quarterly Interest Rate 6 7 8.24 % 8 Compute the actual interest rate paid or earned on a mortgage loan if the bank states that the nominal rate is 10%, and the interest is compounded (a) semi-annually and (b) quarterly. (Note: Round your answers to two decimal places.) ORATE O DISC O EFFECT O NOMINAL A B Data Description 2 Compounded semi-annually 3 Interest Rate 4 10.25 % 5 Compounded quarterly 6 Interest Rate 7 10.38 % 8