Consider the cash flow diagram given below where the nominal interest rate is $8\%.$

a$)$ What is the effective annual interest rate given that interest is compounded quarterly? $(1$

point$)$

b$)$ What is the effective interest rate per quarter given that interest is compounded monthly? $(2$

points$)$

c$)$ What is the amount $C$ of quarterly deposits such that you will be able to withdraw the

amounts shown in the above cash flow diagram for an interest rate of $8\%$ compounded

monthly? $(5$ points$)$