Given an effective annual rate j₁ = 6.175%, find the equivalent effective semi-annual rate.

a. 3.22373%

b. 3.64950%

c. 3.34538%

d. 3.46703%

e. 3.04125%

Given i⁽²⁶⁾ = 1.950%, find the equivalent effective monthly rate.

a. 0.16582%

b. 0.17558%

c. 0.16745%

d. 0.16257%

e. 0.17720%