Finding nominal rate of return Suppose the effoctive annual interest rale on some investment is 9.42% a. What is the stated rate per monith? b. Suppose you decide to kick your Starbucks habt to save money. Currently you spend $12500 per month (about $4 per day) on $ tarbucks coffee. Without considering the tme value of money. and assuming Starbucks prices remain sleady, how much will you spend at Starbucks over the nexd 30 years assuming no change in your monthly spending? c. Now suppose you invest the $125.00 monthly in an account that earns an effective annud retum of 2.42%. How much money will you accumulabe ovor 30 years using the funds that you previousy spent at Starbucks? Note. assume your first monthly deposit occurs one month from now a. The staled rase per month is K. (Round to five decimal places.)