How to solve a$)$ Maria has a bank account, which credits interest at the nominal annual rate of discount of $4/40$ convertible quarterly. i$)$ What is the equivalent effective quarterly rate of discount? ii$)$ What is the equivalent effective annual rate of interest? b$)$ Maria buys a $182-$day T$-$bill with face value $$1000$ for a purchase price of $$950.$ i$)$ Find the effective $182-$day discount and interest rates. ii$)$ If Maria invested in a fund that earned interest at the above effective $182-$day discount rate, how much would $$950$ grow to in $3$ years?