Compute the stated interest rate on a promotional credit card if the effective interest rate is 12.01%. Assume that interest is compounded (a) semi- annually and (b) quarterly. (Note: Round your answers to two decimal places.) O RATE O DISC O NOMINAL O EFFECT Description 1 2 Data Compounded semi-annually Interest Rate = % Compounded quarterly 6 Interest Rate A 00 Compute the actual interest rate paid or earned on a mortgage loan if the bank states that the nominal rate is 8%, and the interest is compounded (a) semi-annually and (b) quarterly. (Note: Round your answers to two decimal places.) ORATE O EFFECT O NOMINAL O DISC Description 1 2 3 Data Compounded semi-annually Interest Rate 5 6 Compounded quarterly Interest Rate