In your answers, you should properly show your work by writing down your entries into the calculator. For instance, if you use the TVM worksheet of your financial calculator to compute how long it takes to double your account balance given 5\% annual interest rate, you should write down your entries as: I/Y=5,PV=1,PMT=0,FV=2,CPTN= ? - - the question mark here stands for your answer to the question. Question 8 - Interest Conversion Worksheet - compute EFF [2 points] A bank offers a certificate that pays a nominal interest rate of 10% with monthly compounding. What is the annual effective interest rate? (page 74) Question 9 - TVM Worksheet - compute monthly payments [4 points] If you finance the purchase of a new desk and chair for $525 at 12% nominal interest rate with monthly compounding for two years, how much is the monthly payment? (pages 34-35) (Hint: there are two approaches to solve this problem with the financial calculator. The first approach is as illustrated on pages 3435 of the Manual, which resets P/Y1012 first. In the second approach, we do not reset P/Y, which still equals its default value of 1 . Instead, we enter the number of payments N=2 years * 12 monthly payments =24, enter the periodic simple interest rate IY= the annual nominal interest rate 12/ the compounding frequency per year 12=1. Then enter PV and FV, then compute PMT.)