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If the monthly effective interest rate is 1%.(a) Please find the annual nominal interest rate.(b) Please find the annual effective interest rate.(c) If $1000 is

If the monthly effective interest rate is 1%.(a) Please find the annual nominal interest rate.(b) Please find the annual effective interest rate.(c) If $1000 is invested under this interest rate, how much it will accumulate to after 5 years?(d) Please find the annual effective discount rate that is equivalent to this interest rate?(e) If $2000 is borrowed under this discount rate for 1 year. Please find the amount of discount on this $2000

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