Consider the following: 16.8% p.a. compounded annually. 16.4% p.a. compounded monthly. 16.5% p.a. compounded quarterly. NOTE: Give your answer correct to three decimal places. a) Determine the effective annual interest rate of each of the nominal rates listed above. . For 16.8% p.a. compounded annually. P= (p) The effective interest rate is % . For 16.4% p.a, compounded monthly.. p= D The effective interest rate is 16.5% p.a. compounded quarterly. P= 1% (p) The effective interest rate is 1% b) Which is the best interest rate for an investment? %