Find the equivalent interest rates to the given nominal interest rates. (Question relates to Mathematics of Business and Finance)

a. Nominal interest rate compounded quarterly that is equivalent to an effective interest rate of 5.5% .

A. 95.53%

B. 1.35%

C. 23.88%

D. 5.39%

b. Nominal interest rate compounded monthly that is equivalent to 4.5% compounded quarterly.

A. 40.96%

B. 3.41%

C. 4.48%

D. 0.37%

c. Nominal interest rate compounded monthly that is equivalent to 3.5% compounded annually.

A. 3.45%

B. 613.28%

C. 0.29%

D. 51.11%