Find the equivalent interest rates to the given nominal interest rates.

1. Nominal interest rate compounded quarterly that is equivalent to an effective interest rate of 4.5% .

a.77.01%

b.1.11%

c.19.25%

d.4.43%

2. Nominal interest rate compounded monthly that is equivalent to 7% compounded quarterly.

a.64.11%

b.5.34%

c.6.96%

d.0.58%

3.Nominal interest rate compounded semi-annually that is equivalent to 8.5% compounded annually.

a.8.33%

b.35.45%

c.4.16% 1

d.7.72%