Find the cost of financing in the following case scenario: A debt of $30000 with interest at 9.75% compounded quarterly is to be repaid by equal payments at the end of each year for seven years. What is the equivalent periodic rate of interest? 13294.79 None 43294.79 30000 p = (1 + i) 1 In the above formula to find equivalent rate of interest per payment period, what is c? number of interest conversion period per payment interval number of interest conversion periods per year None number of payments per year