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If the Effective Annual Rate of interest is 5.21% assuming quarterly compounding, then what is the nominal annual rate? a) Nominal Interest Rate of 6.25%

If the Effective Annual Rate of interest is 5.21% assuming quarterly compounding, then what is the nominal annual rate?

a) Nominal Interest Rate of 6.25% compounded annually over 4 years

b) Nominal Interest Rate of 5.50% compounded monthly over 5 years

c) Nominal Interest Rate of 5.75% compounded annually over 6 years

d) Nominal Interest Rate of 6.00% compounded quarterly over 5 years

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